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AfDB and South Korea begin preparations for 2018 Annual Meetings

The African Development Bank (AfDB) and the government of Korea have launched preparations towards the holding of the Bank’s 2018 Annual Meetings in Busan, South Korea.

According to the Bank the 53rd Annual Meetings of its Board of Governors and the 44th Meetings of the Board of Governors of the African Development Fund (ADF), the concessional arm of the Bank Group, are scheduled to take place from May 22-25, 2018 in Busan, located about 325 kilometres southeast of Seoul.

South Korea’s Vice-Minister of Strategy and Finance, Hyoung-Kwon was quoted as saying, “We are prepared and happily look forward to hosting next year’s Meetings of the African Development Bank.” He made the comments following the signing of a Memorandum of Understanding (MoU) on modalities for the organisation of the Annual Meetings with AfDB Secretary-General, Vincent Nmehielle.

“We are quite satisfied with the Korean Government’s excitement and dedication to host the Meetings,” the Secretary-General reportedly said, adding that, “The signing of the MoU is a significant step, kick-starting preparations for the organisation of the Bank’s foremost statutory Meetings next year,” he added.

The AfDB indicated that the Secretary-General led a team of Bank staff on the 10-day Annual Meetings Preparatory Mission, which discussed roles, resources and modalities for hosting the Bank’s flagship event with Korean officials led by Yoon Taesik, Deputy Director-General of Strategy and Finance and Head of the Annual Meetings Secretariat.

An aide memoire, which specifies the roles and contributions of each party toward hosting the event, was also signed by Deputy Director Yoon Taesik and AfDB Security Chief and Head of Technical Annual Meetings Preparatory Committee Leader, William Godbout. The partnership between the AfDB Group and the Republic of Korea began in 1980 when Korea joined the African Development Fund. The country joined the AfDB two years later, it said.

By Emmanuel K. Dogbevi

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