New reforms announced by AfDB President

May 17, 2010

The African Development Bank (AfDB)'s President Donald Kaberuka has announced further improvements to the way information is disseminated at the institution.

Following on from a briefing on May 11th, Mr Kaberuka said the Heads of Departments at the Bank's Management Team will be responsible for deploying the AfDB's new policy about the way information is revealed. In order to help them with this task, an examination of the information dissemination policy - which dates back to 2004 - is underway so the scope of details released can be widened.

At present, the transparency policy states "all information on bank activities and operations will be released, unless there are compelling reasons not to do so". The AfDB President also revealed from January 1st 2011, a strategy will come into effect that will strive to maintain the bank's long-term financial strength and to provide more competitive rates for borrowers.

Finally, increased support will be given to those African countries that need to adapt to climate change. Steps have already been taken to help with this, including the setting up of a Department of Energy, Environment and Climate Change at the Bank.

The 2010 AfDB Annual Meetings will be held in Abidjan, Cote d'Ivoire.