World / East Africa
Wednesday, 30 Aug 2017 18:05 EATnewsdesk@kenyafreepress.com
The President of the Republic of Seychelles, President Danny Faure, chaired the special session of the Eminent and Distinguished Persons High Level Advisory Panel of the Eastern and Southern African Trade and Development Bank (TDB, formely 'PTA Bank') this morning at the Savoy Resort in Seychelles.
The High Level Advisory panel session is the second meeting part of the 33rd Annual Meetings of the Board of Governors of TDB, which will officially open tomorrow, when the 33rd Annual General Meeting will come to a close. The activities at the meeting included a Board of Governors Meeting, Investor Round Table, the Central Bank Round Table, the Eminent Panel and a Gala Dinner.
President Faure officially launched the half-day working session, welcoming the delegates to Seychelles on behalf of the Government and people of Seychelles and reminding those present of the core rationale behind the creation of the panel. He also stressed on the importance of adopting a systematic approach to ensure all members remain committed to working together for the benefit of common goals.
The high level international event gathered government and private sector leaders, investors, ministers of finance and other development finance partners to discuss trade and investment opportunities on the continent and challenges in managing investments and achieving development impact from a practitioner point of view.
“It is a great privilege to host TDB in Seychelles, once again. Its presence here signifies the increasingly pivotal role that Seychelles plays in the regional and continental development agenda,” said Dr. Peter Larose, Minister of Trade, Finance and Economic Planning of the Republic of Seychelles, who is also the incoming Chair to the Board of Governors of the Trade and Development Bank.
As part of TDB’s effort to expand the Bank’s membership and recruitment of new stakeholders, an Eminent Persons Advisory Panel has been established. The objective of the Panel is to advise the Bank on matters of strategies, partnerships and resource mobilization in the context of the Bank’s next five-year Corporate Strategy (2018-2022).
Among the eminent guests in attendance, include former President of Zambia Rupiah Bwezani Banda, former Deputy Chair of the African Union Erastus Mwencha, former President of the African Development Bank Dr. Donald Kaberuka, Deputy Executive Secretary of the United Nations Economic Commission for Africa (UNECA) Dr. Abdalla Hamdok and Dr. Christopher Humphrey, a development expert from the University of Zurich amongst others.
The 33rd Annual General Meeting of the Trade and Development Bank provided an opportunity to reflect on the bank’s achievements and look at sustainable ways of tackling future challenges in the diverse industries and sectors of the region. “In recent years, we have been giving a big boost to our financing of trade, enterprise and infrastructure, which is evidenced in the tripling of our loan assets in the past five years. Cumulatively, the bank has provided close to USD 16 billion in financing for trade and socio-economic investment in the region.” said TDB President and CEO Admassu Tadesse.
“We have funded several landmark renewable energy projects such as Turkana Wind Power in Kenya, Hydromax Minihydro in Uganda and industrial projects such as cement and steel plants in DR Congo, Djibouti, Zambia, Rwanda, Ethiopia and Zimbabwe. Other landmark projects funded include the Burundi Fibre Optic Backbone Project and Kilwa Power in Tanzania.
"We will continue scaling up, with continued attention to economic transformation, sustainability and good corporate governance,” Mr Tadesse further added.