Ken Ofori Atta Charges AFDB To Tackle Post Covid-19 Recovery Challenges.

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Source: pettvonline

Mr. Ken Ofori Atta, the finance minister of the Republic of Ghana,  made this comment in his opening statement to the Africa Development Bank Group Annual Meetings, which began June 23, 2021 and to be ended today June 25,2021. 

He said the Africa Development Bank should show leadership in addressing risks facing the continent to ensure a successful socio-economic recovery from the Corona virus pandemic.

He explained, “As we advance, building back, greener and better, we would require the AfDB to show leadership to address 3 critical categories of risks, namely the risk of greater pandemic resurgence which will affect African countries disproportionately. The risk of reduced capital inflows because of the perceived economic effects of the pandemic’s resurgence. The risk of lasting economic damage from the pandemic exacerbating poverty and inequality within African countries.”

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African Development Bank Group to hold Annual Meetings virtually from 23 to 25 June 2021

The 2021 Annual Meetings of the African Development Bank Group will take place from 23 to 25 June, 2021 in a virtual format.

This year’s theme, “Building Resilient Economies in Post Covid-19 Africa,” will provide a platform for the Bank’s governors to share their experience in addressing the pandemic and the policy measures they are employing to rebuild economies and livelihoods.

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This will be the 56th Annual Meeting of the Board of Governors of the African Development Bank and the 47th Annual Meeting of the African Development Fund, the concessional arm of the Bank Group. The governors of the African Development Bank are from the institution’s 54 African regional and 27 non-regional member countries.

“In a year of unprecedented fiscal and social disruption arising from the Covid-19 pandemic, I am delighted that we can convene and assure Governors of the Bank Group’s continued commitment to Africa’s sustainable economic development and social progress,” said Prof. Vincent O. Nmehielle, African Development Bank Group Secretary General.

This year’s gathering will comprise statutory meetings of the Bank Group’s Boards of Governors, a high-level dialogue, and knowledge events. Honourable Ken Ofori-Atta, Ghana’s Minister of Finance and Chairperson of the Boards of Governors will preside over the meetings A key feature of the Meetings will the Governors’ Dialogue with the Management of the Bank Group led by its President, Dr. Akinwumi A. Adesina.

The meetings are taking place as Africa attempts to recover from its worst recession in decades. GDP growth of 3.4% is expected in 2021, after a contraction of 2.1% in 2020, the worst economic recession in 50 years. Concerns about the grassroots impact of the pandemic on the continent will be high on the agenda. It is estimated that 24.6 million to 30 million Africans could lose their jobs, increasing the total number of people living in extreme poverty to 463 million.

The African Development Bank Group’s Annual Meetings present a unique opportunity not only to discuss the economies and livelihoods of African countries, but also to share solutions for addressing the Covid-19 vaccine shortage, climate change, debt and much more.

Some 3,000 participants are expected to attend the meetings online. This includes finance ministers, central bank governors, policy makers, representatives of civil society groups, heads of international organizations, business leaders from the Bank Group’s member states and journalists.

A press conference will precede the meeting on 7 June 2021, led by Group Secretary-General Vincent Nmehielle.

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