• Short Summary

    Finance ministers and officials from 34 African countries met in Algiers on Monday (July 17) to begin the eighth annual assembly of the Board of Governors of the African Development Bank.

  • Description

    Finance ministers and officials from 34 African countries met in Algiers on Monday (July 17) to begin the eighth annual assembly of the Board of Governors of the African Development Bank.

    Observers from many non-African countries, banks and international financial bodies are also attending the five-day meeting. In all, there are four hundred delegates.

    Among the main agenda items is a debate on whether the African Development Bank should accept foreign capital. This has been suggested as a way of building-up the bank's reserves, but is opposed by several members, including the host country Algeria.

    Opening the conference, the Algerian Minister of State, Mr. Cherif Bolkacem, said the African Development Bank "should remain a specifically African work of solidarity."
    Acceptance of foreign capital is, however, envisaged in another agenda item -- approval of a draft charter for an African Development Fund. This would be affiliated to the bank, draw its capital from industrial countries and make low-interest, long-term loans to its members.

    The Governors of the African Development Bank will also discuss the effect of recent changes in the world monetary system on African countries.

  • Tags

  • Data

    Film ID:
    VLVAC45AMYWU3VWKXAHO1SQ5GBPMU
    Media URN:
    VLVAC45AMYWU3VWKXAHO1SQ5GBPMU
    Group:
    Reuters - Incuding Visnews
    Archive:
    Reuters
    Issue Date:
    19/07/1972
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Black & White
    Duration:
    00:02:31:00
    Time in/Out:
    /
    Canister:
    N/A

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