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ADB urged to play leadership role in Africa |
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08:25, July 04, 2007 |
The African Development Bank (ADB) has been called upon to assume a leadership role in the development of the Africa continent, Moroccan finance and privatization minister Fathallah Oualalou said Tuesday.
"The bank will only be able to fully play the role of a catalyst by ensuring that it becomes an indispensable intermediary for all donors," the minister said while addressing the opening session of a North African workshop on ways to improve effectiveness of the activities of the bank on the African continent.
Noting that a number of African countries have made remarkable progress in the fields of good governance and ensuring macro-economic stability, the minister said the bank should take inspiration from the ensuing growth with a view to consolidating and spreading the same across the continent, even more so at a time when the international community has pledged to boost the flow of funds to Africa.
According to the minister, in addition to its stated mission of funding and mobilizing resources for development projects in Africa, the bank must also furnish its member states with advice and technical assistance that they need in the implementation of their development programs.
Calling for simplified funding procedures, the minister called on the bank to set the example for other development partners by initiating bold actions with a view to attaining maximum flexibility in the identification and implementation of projects.
Source: Xinhua
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