The FT reports on efforts to turn around one of the continents moribund institutions-The ADB:
The African Development Bank, with 53 African and 24 non-African countries as members, has had a reputation for being sluggish and unresponsive, complex in its processes, slow in disbursing funds, and discreet in its public profile...Since Donald Kaberuka, former Rwandan finance minister, took over as president last September, backed by donors, he has set about overhauling the bank for a much bigger and more central role in development financing on the continent.
This has involved radical changes, replacing four out of five vice-presidents and the secretary-general, reorganising departments, moving more staff into operational posts, opening field offices and powering up the bank’s economics department. In its bid for new credibility, the bank aims to brand itself as “the first port of call for knowledge on the African continent”.
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