On May 16-17, the governors of African Development Bank Group
(combining the African Development Bank and the African Development
Fund) will convene for their annual meetings at the Shanghai
International Convention Center. This year's ministerial round
table, on May 15, will operate under the theme "Africa and Asia:
Partners in Development."
The multi-lateral ADB counts 77 countries as its shareholders,
with 53 African states on board along with counterparts from the
Americas, Asia and Europe. First founded in 1964 and opening
officially in 1967 with China joining in 1985, the bank is
headquartered in the Cote d'Ivoire capital, Abidjan.?
As Africa's foremost financial development institution, its
mission statement is to alleviate poverty and to improve conditions
for people across the continent. It also seeks to mobilize
resources to ensure the smooth economic and social progress of its
member countries in Africa. To do this, it seeks to redistribute
wealth by providing loans, equity investments, and technical
assistance.
(China.org.cn April 29, 2007)
