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President of the African Development Bank Kaberuka in Finland - Permanent Mission of Finland, Geneva : Current Affairs : Ministry for Foreign Affairs News

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Press Releases, 8/30/2013 | Ministry for Foreign Affairs of Finland

President of the African Development Bank Kaberuka in Finland

Press release 182/2013
30 August 2013

Minister for International Development Heidi Hautala will meet President of the African Development Bank Group Donald Kaberuka on Friday 30 August. Hautala and Kaberuka will discuss the role and status of the African Development Bank Group in Africa. The specific themes include the opportunities of inclusive growth and green economy to support Africa’s transformation.

The meeting between Hautala and Kaberuka is significant also for the reason that, after a long break, there is a Finnish member in the Bank’s Board of Directors. Heikki Tuunanen represents the constituency consisting of the Nordic countries and India until summer 2016. During its term in the Board of Directors, Finland will emphasize the benefits of inclusive green economy and strive to ensure that the overarching goals of the Finnish development policy – gender equality, openness and transparency of activities, and climate sustainability – are strongly included in all the Bank's operations.

The African Development Bank Group is an important provider of development funding and development policy actor in Africa. The key objective of the Bank is to reduce poverty by promoting economic and social development of African countries. The Bank Group is committed to the UN Millennium Development Goals and, in its operations, emphasises provision of support for the poverty reduction measures undertaken by each particular country.

The Bank Group consists of the African Development Bank, established in 1964, which provides loans to middle-income developing countries, and the African Development Fund, established in 1973, which provides concessional loans and grants. The African Development Bank’s authorized capital is subscribed to by 54 independent African countries and 24 non-African countries.

The African Development Bank’s new ten-year strategy was adopted in April. The starting point of the strategy is an optimistic future vision of Africa.

Additional information: Milma Kettunen, Press Attaché to Minister Heidi Hautala, tel. +358 40 522 9869; Paula Sirkiä, Counsellor, Unit for Development Financing Institutions, tel. +358 295 351 578

 

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Updated 8/30/2013


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