Kaberuka seeks 2nd term as AfDB Chief

Rwanda is backing son of the soil, Donald Kaberuka for his second and final term as President of the Tunis based African Development Bank (AfDB), a postition he’s likely to retain given his five years track record. Kaberuka assumed his first five-year term as seventh President of the bank on Sept 1, 2005 and his first term as President winds up this year. On July 01, 2009, AfDB Secretary General issued a letter reminding the bank’s Board of Governors of the upcoming election of the President of the ADB Group. Subsquently, Rwanda has swung into action and embarked on mobilising support for its candidate whose performance at the institution should see him sail through easily. The New Times, has obtained an official communication that Finance Minister James Musoni has already sent to his fellow Finance Ministers across the continent counting on their support for Kaberuka. “For the last five years, our compatriot Dr. Donald Kaberuka has been serving as President of the Bank, having been elected in 2005,” the communication from Musoni seen by The New Times said. “By all accounts, he has discharged his duties with devotion, commitment and competence for all African countries. We are convinced that if he has been able to succeed in his high mission, it is in large part, thanks to the support and encouragement, your country and other member nations have given him.” AfDB charter and statute allow the Bank President to serve for a second and last term. “I am therefore honoured to hereby request for your continued support for a second term for Mr. Kaberuka,” Musoni wrote. In the letter the minister told his fellow governors of the bank that a second term for Kaberuka would enable him complete the programs and reforms he began in his first term. Kaberuka ascended to the AfDB presidency with a reform package for the bank promising to deepen internal governance, consolidate the financial muscle of the bank and bringing on board greater operational effectiveness. As President of the Bank Group, Kaberuka chairs the Boards of the African Development Bank and the African Development Fund, the soft loan arm of the Group. Mr. Kaberuka was educated in Tanzania and the United Kingdom where he obtained a PhD in Economics from Glasgow University in Scotland. He served as Finance and Economic Planning Minister since 1997, and was widely acknowledged as the architect of the post-genocide economic reforms. He is credited for implementing major economic and governance reforms in the fiscal, monetary, budgetary and structural domains. Before he joined the government, Kaberuka had 12 years experience in the Banking industry, trade finance, international commodity business and development issues. Ends

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Kaberuka seeks 2nd term as AfDB Chief