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VENTURES AFRICA – In its efforts to deepen its engagement in Africa, Turkey – for the first time last week – took part in the board meetings of the African Development Bank (AfDB).
This comes after Turkey had been admitted as the 78th Member State of the African Development Bank and 26th State Participant in the African Development Fund (ADF).
The country’s admission to AfDB comes after it was approved by the board of governors in early 2008.
“Turkey values AfDB’s unique and pivotal role in helping to shape Africa’s transformation, and, as a new member, looks forward to making a useful contribution to support AfDB in this regard,” African Press Organisation (APO) quoted the AfDB Executive Director, Hau Sing Tse, who represents Canada, China, Korea, Kuwait and Turkey, as having said.
He admitted that it was timely for the country to join the development finance institution, adding this showed that the predominantly Muslim country valued Africa’s current economic transformation.