Ofori-Atta charges AfDB to tackle problems hindering Africa’s post-COVID-19 recovery

Finance Minister, Ken Ofori-Atta has tasked the African Development Bank (AfDB) to show leadership in addressing key risks being faced by the continent, to ensure a successful socio-economic recovery from the Coronavirus pandemic.

Mr. Ofori-Atta made the remarks during his welcome statement for the 2021 Annual Meetings of the African Development Bank Group, which has been going on virtually from the 23rd of June and will be ending today, the 25th of June 2021.

According to Mr. Ofori-Atta, failure to address risks such as reduced capital inflows into Africa and lasting economic damage from the COVID-19 pandemic will slow down the continent’s full and timely recovery.

“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.”

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

The theme for this year’s Annual Meetings of the African Development Bank Group is, “Building Resilient Economies in Post Covid-19 Africa”.

It is aimed at providing 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.

This is 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.

Source: Ghana Business

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