Statement at the Board of Governors Meeting of the AfDB

Dr. Salim addresses the African Development Bank's annual board meeting for the first time since becoming Secretary-General. This is the first time in the history of the OAU that the Secretary-General addressed the Board of the AFDB. 

"We in Africa realize fully the importance of the ADB, especially in the current situation where external financial resources are not forthcoming or, at best are a mere trickle; when the prices of our commodities have continued to collapse in the world markets; when the debt crisis is threatening the survival of many of our countries; and when foreign private investors are frantically pulling out from Africa in spite of the strenuous effort on the part of our countries to implement adjustment programmes and policy reforms. The ADB Group is thus Africa's last resource and as such it should assume even greater responsibilities. The entire institution must gear up in order for it to provide effective support to Africa during the decade of the 1990's and beyond."