Maintaining the momentum of economic development in Africa: A conversation with African Development Bank President Donald Kaberuka
On April 15, the Africa Growth Initiative at Brookings hosted the president of the African Development Bank (AfDB), Donald Kaberuka, for a conversation on priorities for economic development on the continent. Kaberuka discussed how the region can continue recent economic success and avoid obstacles, as well as the lessons the AfDB has learned as Dr. Kaberuka approaches the end of his final term as the institution’s president.
Donald Kaberuka is completing his second term as president of the African Development Bank. Prior to joining the bank, he served as finance minister for Rwanda from 1997-2005, during which time he oversaw the country’s successful economic reconstruction after the end of its civil war. During Kaberuka’s tenure at the AfDB, it has become Africa’s premier financial institution, including a doubling of its loans and grants in the wake of the 2008 global financial crisis. Today, its active portfolio stands at $25 billion, some two-thirds of which is spent on infrastructure.
Vice President and Director of the Brookings Global Economy and Development program Kemal Derviş provided introductory remarks after which President Kaberuka made a keynote address. Brookings Africa Growth Initiative Director and Senior Fellow Amadou Sy then moderated the discussion, which included an opportunity for audience questions.
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