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Thursday, August 6, 2020

The five day ADB 2016 Annual Meeting opens in Lusaka, Zambia

Economy The five day ADB 2016 Annual Meeting opens in Lusaka, Zambia

African Development Bank President Akinwumi Adesine speaking whilst former President of Ghana John Kufour listens at the Achieving Nutritional Security conference
African Development Bank President Akinwumi Adesina speaking whilst former President of Ghana John Kufuor listens at the Achieving Nutritional Security conference

The five day African Development Bank -ADB- 2016 annual meeting has opened in Lusaka. Thousands of delegates from across the continent and the globe have converged for meeting.

The meeting will however, be officially opened on Tuesday with at least three African Heads of State and former presidents expected for the meeting taking place at the Mulungushi Conference Centre.

For the first day, the bank has launched the African Economic Outlook 2016 report. The report indicates that Africa’s economic performance held firm in 2015 amid global headwinds and regional shocks.

It says the continent remained the second fastest growing region after East Asia. According to the report’s forecast, the continent’s average growth is expected at 3.7 per cent in 2016 and pick up to 4.5 per cent in 2017, provided the world economy strengthens and commodity prices gradually recover.

The report also highlights that In 2015, net financial flows to Africa were estimated at 2-hundred and 8 billion US dollars, 1.8 per cent lower than in 2014 due to a contraction in investment.

At 56 billion US dollar in 2015, however, official development assistance increased by 4 per cent and remittances remain the most stable and important single source of external finance at 64 billion US dollars in 2015.

Launching the report, Acting Director, Development Research department, at the African Development Bank Abebe Shimeles noted that in order to make any real impact at ending poverty, Africa needs to growth at a rate of seven percent per year.

African Development Bank President Akinwumi Adesine and Managing Director Dangote Foundation Zouera Youssoufou signing the connection with the Technical Partnership on Nutrition at the Achieving Nutritional Security conference
African Development Bank President Akinwumi Adesina and Managing Director Dangote Foundation Zouera Youssoufou signing the connection with the Technical Partnership on Nutrition at the Achieving Nutritional Security conference

Meanwhile, The African Development Bank (AfDB) Group and the Gambia government on Monday, May 23, 2016 signed a USD 9 million loan agreement to finance an Agriculture Value Chains Project.

The project, which involves the production, processing and storage of or Rice and livestock, will improve food security and create jobs, said the Acting AfDB Vice-President, Sector Operations, Kapil Kapoor, who signed the agreement for the Bank.
Kapoor said the project, which builds on existing agriculture projects in the country, is aligned with the Bank’s High 5 priorities, especially the Feed Africa component. It is among the Bank’s 15 agriculture value-chain engagements across the continent.

He expressed the hope that the government would implement the project as quickly as possible in line with the Bank’s new accelerated projects and programmes delivery approach.

In his response, The Gambia Finance and Economic Affairs Minister, Abdou Kolley, who signed the agreement for his country, thanked the Bank for the support, which, he said, would further strengthen the long relationship between The Gambia and the AfDB.

He said the project will go a long way toward the realization of his county’s food self-sufficiency goal and promised that the government would work hard to reduce bottlenecks which cause delays in the projects implementation.

The Agriculture Value Chains Development Project (AVCDP) was approved in March 2016. It seeks to increase, on a sustainable basis, the income of rural producers, entrepreneurs engaged in the production, processing, storage and marketing of rice and livestock. It will also create shared wealth and jobs.

To be implemented over a period of five-years predominantly in the Upper River (URR) Regions of the country where poverty and food and nutrition insecurity are highly endemic, the project will benefit an estimated 8,300 households comprising 3,320 women and 4,980 men. An additional 4,150 people will benefit indirectly from the project, bringing the overall beneficiaries to some 12,450 households.

African Development Bank President Akinwumi Adesine (c) Managing Director Dangote Foundation Zouera Youssoufou (r) and Jamie Cooper Chair and President of Big Win Philanthropy signing the connection with the Technical Partnership on Nutrition at the Achieving Nutritional Security conference
African Development Bank President Akinwumi Adesina (c) Managing Director Dangote Foundation Zouera Youssoufou (r) and Jamie Cooper Chair and President of Big Win Philanthropy signing the connection with the Technical Partnership on Nutrition at the Achieving Nutritional Security conference

African Development Bank President Akinwumi Adesine (c) Managing Director Dangote Foundation Zouera Youssoufou (r) and Jamie Cooper Chair and President of Big Win Philanthropy exchanging documents after signing the connection with the Technical Partnership on Nutrition at the Achieving Nutritional Security conference
African Development Bank President Akinwumi Adesina (c) Managing Director Dangote Foundation Zouera Youssoufou (r) and Jamie Cooper Chair and President of Big Win Philanthropy exchanging documents after signing the connection with the Technical Partnership on Nutrition at the Achieving Nutritional Security conference

8 COMMENTS

  1. This is exactly the first point of entry and the reason why Lungu & his maggots must go like yesterday already.1st point:Look at the pics above,where is the host-Chi Chakwanda or Kalyalya or whatever Gorilla that is there to represent us?They shd ve sat head to head if really Zambia was a host & a big player in this Top Business meeting.2nd point:The deal is signed & it goes to Gambia in west Africa. Again,opportunity lost for Zambia.We were not there to host & were not there to strike the first.I think the AFDB jst used Zambia as jst another venue,available for hire,to highest bidder.Because this is where we shd ve started to be heard and then deals wud just flow in,forget!our Lizards wont bring anything out this meeting for us,but sing thereafter that “we hosted the 2015 AFDB”,as…

  2. Even just a “looking on in the background,is the Zambian chakuti chakuti “, wud ve done a great deal.But bane,labeni ko ifyi fyama AFDB.Cos clearly there is no one there present.We ve no representative. Kansi voonse vili mu Audience chabe ayi!Filetamba fye

  3. It is very clear the economic growth or lack of it affected ALL OF AFRICA and not just ZAMBIA alone contrary to the UPND assertion that Zambia is the only country which had a reduced economic growth.

  4. Iwe chi fake Engineer give me names of countries that have been affected,dont just bubble like Chi mubondo in Lake Tanganyika.Especially if South Africa has ended its own Load shedding and even worse Zimbabwe has also done away with Load shedding.Imagine even Zimbabwe came out before us.What do you know?and which Africa-give me names,you PF cadre!

  5. Chi Kays,what do you know about conferences?and which conference?Let me educate you:AFDB is not a conference,it is a financial organisation/institution in which Zambia is an active member.There are two points of benefits here for Zambia;Either we benefit as member or as a host.As a member,our forefront organizers shd ve engaged Zambian businesses to participate in this meeting to acquire 50% of the deals. Look Dangote in Nigerian,he sent a representative there & he has struck the first deal already before even conference starts.And where are the Zambian businesses????where are they?

  6. Secondly,as the Host;Zambia shd ve requested during the negotiations of hosting this event that,before or after the meeting,we will showcase our Zambian products on stage,even jst for 15min.And will take everyone on a free physical tour thru Zambia.I watched Bill Gates this morning talking from Lusaka,Zambia.now you see you fool how much we are loosing?Big names are there near you,and yet you sited here talking bull to me instd of attending the business conference?

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