African Development Bank (Tunis)
SPONSOR WIRE
29 February 2008
Posted to the web 29 February 2008
Representatives of the African Development Bank Group recently participated in a seminar on "Promoting Diaspora-led Investments and Leveraging Remittances as a Source of Financing for Enhanced Growth and Development in Africa" held in Cape Town, South Africa. Organized by the Joint Africa Institute, the 3-day seminar, which ran from February 6-8, 2008, brought together experts in the domain, including the AfDB Executive Director, Peter Sinon; the World Bank's Chief Economist for Africa, John Page; the Multilateral Investment Fund Manager, Donald Terry, and the chief executive officer of the Development Bank of Southern Africa (DBSA), Paul Baloyi.
As the reality of globalization reaches more and more people, the role and impact of the Diaspora and their remittances as well as their potential positive contribution to development is becoming increasingly critical for policy and strategic considerations. The scarcity of development finance is being further hampered by escalating costs of inputs for infrastructure development such as cement, bitumen and fuel, and this makes Diaspora remittances all the more important. [Read more]
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