Source: Financial Times

By William Wallis in Addis Ababa

The African Development Bank (ADB) has chosen to hold its annual summit in Shanghai this May in recognition of China's increasingly pivotal role in Africa's future.

The ADB is the third largest multilateral donor on the continent after the World Bank and International Monetary Fund.

Donald Kaberuka, ADB president and Rwanda's former finance minister, told the Financial Times the Shanghai meeting would provide an opportunity - at a critical moment for African economies - to learn from the Chinese experience of development. Mr Kaberuka also hoped that China's involvement with the ADB as an institution would help ensure that Beijing's rapidly expanding involvement in Africa would be mutually beneficial.

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Posted by pichu at February 1, 2007 2:05 AM