THE BANK GROUP AND ITS NEW VISION
In partial response to Mr. Jassy-Conteh’s concerns expressed in his posting
entitled “Current Issues”, please find below the Bank Group’s Vision
(Mission Statement) adopted by its Board of Directors in 1998. The Bank
Group comprises of the African Development Bank (non-concessional window),
the African Development Fund (concessional window) and the Nigeria Trust
Fund (part- concessional window established and funded by the Nigerian
Government). I do not know all the Fortune 500 companies, but in Cote
d’Ivoire alone, the following companies have either their Regional
Headquarters in Abidjan or have a noticeable presence: Nestles, Mobil,
Shell, Deloitte & Touche, Microsoft, ABB, Proctor & Gamble, BNP, Citibank,
Standard Chartered (setting up shop with Gambians brought in from Banjul to
establish and run the Bank) Cargill and a number of other agro-industrial
firms. I thought I had answered most of the questions you posted after my
public reaction to your initial inquiries, but it seems that I was wrong.
I may revert to some of them, if necessary, at another occasion due to the
limited time I have at the moment.
Please let me apologise in advance to those who do not care about what the
ADB is all about and/or the central themes of my postings. It is important
to me, however, that the issues raised in Jassey-Conteh’s posting be
discussed within a context and thus the need to post the entire Vision
Statement since he is advocating for a new Statement. I’d appreciate
comments, analyses and observations on the Vision Statement from members
and particularly from Mr. Jassey-Conteh. I thank Mr.Maila Touray for his
helpful comments. I will try, at some point, to respond to his main
question on The Gambian economy and medium-term prospects. Sidi Sanneh
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THE NEW VISION OF THE AFRICAN DEVELOPMENT BANK GROUP
In 1998, the Bank Group initiated a process to define its Vision so as to
make its operations more client-focussed and competitive in the changing
global economy. To ensure that all its stakeholders share the Vision, the
Bank adopted a broad-based, consultative process. The Vision Statement
identifies selected areas where the Bank can contribute most effectively,
given limited resources and its own comparative advantage. At the country
level, there are three broad sectoral themes, namely: agriculture and rural
development; human capital development; and private sector development.
Governance is the generic theme at country level, while gender and the
environment are identified as cross-cutting issues. The regional focus
will be on economic integration and co-operation.
Agriculture provides the starting point for supporting overall growth and
for improving living standards on the continent, given that poverty is
predominantly a rural phenomenon. Rural development will include financing
credits, feeder roads, rural water supply and irrigation, support for
micro- and small-scale, private-sector, agro-based initiatives, and rural
financing intermediation.
Investment in human capital development will include support for social
services, mainly health and education, especially in girls’ education, as
well as support for institutional capacity building would ensure true
ownership by the Regional Member Countries (RMCs meaning Africa members).
Regarding private sector development, the Bank Group will assist RMCs in
building an enabling regulatory and legal environment that is conducive to
private initiatives. It will also promote the development of small- and
medium-scale enterprises.
A consensus has emerged on the leading role that the Bank Group can play in
governance, given its proximity to MRCSs, and its particular understanding
of African problems. While finalising its governance policy, (this has
since been finalised and approved by the Board in 1999) the Bank Group will
focus mainly on enhancing accountability and transparency in public
resource management to fight corruption, consolidate reform, and strengthen
institutional capacity.
Particular attention will also be paid to environment and gender.
Environment activities will emphasise strengthening on-going activities and
collaborating with other development process, the Bank will work closely
with RMCs to promote their greater involvement and equality in all aspects
of its work.
The Bank Group will assist RMCs in integrating their economies in order to
compete more effectively in the global market by supporting the efforts of
sub-regional organisations to establish closer regional co-operation and
integration.
In addition to defining its selectivity, the Bank will also identify areas
of collaboration with other international financial institutions and
development agencies.
END OF VISION/MISSION STATEMENT OF THE AFRICAN DEVELOPMENT BANK GROUP.
Source:ADB Group Annual Report, 1998
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