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Seychelles represented at AfDB Group annual meetings |13 June 2017

Finance, Trade and Economic Planning Minister, Dr Peter Larose, represented Seychelles at the African Development Bank (AfDB) Group 2017 annual meetings held in Ahmedabad, India from May 22-26.

The 52nd annual meetings were held under the theme ‘Transforming Agriculture for Wealth Creation in Africa’.

During the meetings the board of governors of the AfDB and the 43rd meetings of the board of governors of the African Development Fund (ADF), reviewed and endorsed the bank’s 2016 annual report and its programmes for the coming year.

The governors endorsed the bank’s leadership in the transformation of African agriculture in the context of the global commitment to end poverty and overcome hunger and food insecurity.

“We encourage the bank to continue to work with other donor agencies to pool in financial resources, financing modalities and policy tools to unlock the potential of the sector and to fast-track the achievement of Africa’s agricultural transformation,” they said in their final communiqué.

Indian Prime Minister Narendra Modi presided over the opening session of the meetings in the presence of two African heads of State ‒ Presidents Macky Sall of Senegal and Patrice Talon of Benin ‒ as well as Vice-President Daniel Kablan Duncan of Côte d’Ivoire and India’s Minister of Finance, Arun Jaitley and Chief Minister for Gujarat State, Vijay Rupani.

In line with the central theme ‘Transforming Agriculture for Wealth Creation in Africa’, many of the high-level meetings explored how India and Africa can work together in order to achieve their shared goal of rural and agricultural transformation which would go a long way in reducing rural poverty and improving the quality of lives of rural people.

The 2017 African Economic Outlook (AEO) and a book on ‘Beating the Odds: Jump-Starting Developing Countries’, were launched along with the financial presentation on the bank’s operations during the previous year.

During the annual meetings, Minister Larose also met representatives of various financial institutions such as the AfDB, Exim Bank of India, Kuwait Fund, Badea and OFID with regard to ongoing cooperation programmes. Minister Larose also held talks with the Chief Minister of Gujarat, Mr Rupani. They discussed cooperation in healthcare, tourism, IT and cultural exchange.

The minister also took the opportunity to visit the Reserve Bank of India (RBI). He met the governor, Urjit Patel. He also met representatives of the business community who were interested to learn of the possibilities for cooperation between the two countries.

Minister Larose was accompanied by the principal secretary for economic planning Elizabeth Agathine.

The 2017 annual meetings were the fourth time that the annual meetings of AfDB were held outside Africa. The 53rd annual meetings will be held in Busan, Korea on May 21-25 next year.

 

 

 

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