Thirty-eighth session of the Commission/Conference of African Ministers of Finance, Planning and Economic Development : Remarks by Omar Kabbaj, president of the African development bank group

Abstract

Remarks by Omar Kabbaj, President of the African Development Bank Group, at the Closing Session of the Thirty-eighth Session of the Conference of African Ministers of Finance, Planning and Economic Development. Mr. Kabbaj, on his remarks highlighted that, Africa's efforts to accelerate progress towards the MDGs would need the full support of the international community if it is to succeed. We believe that increasing ODA flows to Africa should be complemented by further debt relief, as this would release considerable resources to help meet the Millennium Development Goals. Although much has been accomplished in recent years as a result of the HIPC initiative and bilateral action, the external debt burden remains high for a large number of countries. The Bank Group has mobilized considerable resources to finance the development efforts of its low income regional member countries.