17 September 2016 Current Affairs: India will be hosting the next annual meetings of the African Development Bank (AfDB) Group at Mahatma Gandhi Convention Centre, Ahmedabad from May 22 to May 26, 2017.
This will be a mega international event to be attended by more than 5000 delegates from 80 member countries of the African Development Bank, including the governors, alternate governors, executive directors, policy makers and businesses.
A MoU was signed between the Government of India and the AfDB regarding the holding of the annual meetings.
The MoU outlines the roles of Government of India and the AfDB. The signatories to the MoU were Ms. Bandana Preyashi, Deputy Secretary (ADB-II/AfDB), Department of Economic Affairs(DEA), and Vincent O. Nmehielle, Secretary General of AfDB on behalf of the African Development Bank Group (AfDB).
The African Development Bank (AfDB) was established in 1963 with a view to promote the Economic Development and social progress of its regional members.
India became member of the African Development Bank (AfDB) in 1983. The Union Finance Minister and Secretary, Department of Economic Affairs (DEA), Ministry of Finance are the Governor and Alternate Governor of the Bank respectively.