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AfDB to discuss North Africa at annual meeting

20th May 2011

By: Reuters

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The African Development Bank will look at the impact on the continent of unrest in North Africa at its annual meeting next month, the bank's secretary-general said on Thursday.

"The conflicts in Egypt, Tunisia and Libya will be discussed," Secretary-General Cecilia Akintomide told a web-based press conference.

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"We will be discussing the implications on development and the lessons to be learned, that will be a key part of our discussion."

The bank includes 53 African countries among its 77 shareholders, as well as Western governments. It tripled its capital base to $100-billion last year to cope with the impact on Africa of the global financial crisis.

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The Arab spring uprisings in north Africa and conflict in the Ivory Coast have not dented the bank's finances, Akintomide said.

"We have done a deep financial management analysis, country exposure analysis, risk analysis, at this time the bank is not at any real risk as a result of the unrest," she said.

The bank said it was resuming operations in Ivory Coast with $150-million of emergency support for the country emerging from a five-month political crisis.

The annual meeting takes place in Lisbon on June 9 to June 10. Representatives of the government of south Sudan, which voted to secede from Khartoum in January, will attend as observers.

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