Dr. Donald Kaberuka the President of the African Development Bank has remarked that a prosperous, growing Africa is good for the global economy.
“This is a win-win proposition. A prosperous, growing Africa is good for the global economy. This is a collective endeavour involving governments, the private sector and public investment to spur economic growth on the continent. The African Development Bank is ready to play its part by ensuring conditions such as reliable infrastructure is in place,”said AfDB President.
Dr. Kaberuka made the remarks Saturday at the G8 Summit in Washington during a special session focused on agriculture policy in Africa, and in particular, a fresh initiative called the New Alliance for Food Security and Nutrition.
U.S. President Barack Obama at Camp David near Washington hosted the meeting, where this year’s G8 Summit of the world’s largest economies took place.
“With so much for the G8 leaders to discuss,” said AfDB President Kaberuka, “I commend President Obama for putting agriculture investment in Africa on the agenda.”
One of the main objectives of the new initiative is to encourage the private sector to invest more in the continent’s agriculture sector.
Dr. Kaberuka told participants, “Although African agriculture has underperformed for many years, that’s beginning to change as many governments put market policies and conditions in place.”
Through improved infrastructure, transportation and trade, Africa can make significant headway, he said.
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