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Finance Minister Ken Ofori Atta leads the government delegation to the annual meetings of the African Development Bank in Equatorial Guinea in Malabo.
The Governor of the Bank of Ghana, Ernest Addison, Governor of the Bank of Ghana (BoG), as well as some senior officials from the Ministry of Finance and the Central Bank are also part of the delegation.
The delegation should use the meetings to strengthen ties with the Bank, of which Mr. Ofori-Atta is the governor of the board of directors.
This would also give the team the opportunity to engage other development partners present at the meeting.
Annual meeting of the African Development Bank in Malabo
The annual meetings of the Board of Governors of the African Development Bank Group (African Development Bank and African Development Fund) 2019 are held in Malabo, Equatorial Guinea, from June 11 to 14, 2019, at the Sipopo Conference Center.
Sure 3,000 participants are expected, including finance ministers, central bank governors, policymakers, civil society organizations, leaders of international organizations and business leaders from the 80-member countries of the World Bank Group. the bank.
This year's event focuses on "Regional Integration for Africa's Economic Prosperity," which is part of one of the Bank's five priority areas, known as the "High 5s" (Enlighten and fuel Africa, Feed Africa, Industrialize Africa, Integrate Africa and Improve the quality of life of African people).
The Bank is focusing on regional integration as next month, the continent would start implementing the African Continental Free Trade Area (AfCFTA).
The AfCFTA in March 2018 and is now on the threshold of its launch next month. When the application begins, it is thought to be the largest free trade area in the world, consolidating an integrated market of 1.3 billion consumers with a combined gross domestic product (GDP) of about US $ 3.4 trillion. dollars.
It is estimated that Africa's GDP growth could reach 6% per year on a continent without borders (ECA).
According to the African Development Bank, the African Development Bank is firmly convinced that the creation of links between African countries is essential to the economic transformation of the continent.
The annual meeting always offers a unique opportunity to discuss the challenges facing the region and how to solve the continent's integration challenges.
The Bank's annual meetings provide a unique opportunity to discuss challenges and ways to advance the continent's regional integration agenda.
Ghana and the African Development Bank
Relations between Ghana and the African Development Bank can be described as very good, based on the financial support they have given the country over the years for the completion of certain critical infrastructure projects.
Projects funded by the African Development Bank in Ghana
In terms of recent financing, the Bank supported the construction of the new Kotota Airport Terminal 3 project to the tune of $ 120 million.
The Bank's Board has also recently approved $ 600 million for COCOBOD. The first tranche of funds should be paid into COCOBOD's account by the end of June 2019.The Bank also played a leading role in financing the concessionaire, which took over some of the badets of Electricity Company of Ghana.
The Bank also financed the rural enterprise project. It aims to reduce poverty, slow down the drift from urban areas to cities and contribute to the creation of sustainable jobs.
The evaluation of a field survey indicates that of the 340 project clients involved in the field survey, 280 reported that the project had improved their income levels.
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