12 Mar 2013

The outgoing executive director of the African Development Bank (ADB), Mr Mohit Dhoorundur on March 11 paid a farewell visit to the Assistant Minister of Finance and Development Planning, Mr Vincent Seretse.

During the visit, Mr Dhoorundur explained the election process of a new executive director and briefed Mr Seretse on several issues that included the return of the Bank to Abidjan from Tunisia.

Group one of the ADB countries comprised Botswana, Malawi, Mauritius and Zambia.

 Mr Dhoorundur said ADB has had good achievements in the development of African nations, adding that their intervention was worth over US$8 billion annually.

He stated that the bank recently started giving countries budget support.

Each of the 54 African countries had different challenges and the bank had strategies to help each country.

Mr Dhoorundur noted that Botswana and Mauritius were middle income countries while Zambia and Malawi were low income countries, adding that each of these countries needed different interventions.

He said the ADB had been successful in financing infrastructure and energy projects in Africa, adding that it had assisted Botswana in developing the Pandamatenga Agriculture Infrastructure project, Morupule B Power project as well as the development of corporate governance code for Botswana and fast-tracking the implementation of Vision 2016. ENDS