Eleven years after its creation, the African Development Bank (AFDB) is now within months of setting up a permanent headquarters in the Ivory Coast capital, Abidjan.
GV M. Denise out of car and Grcote by Mr. Da
SV Mr. Labidi looking at model of bank
GV Guests watch as Denise and Ba sign document
GV Labidi watching as Denise places document in stone
Initials CL/2120 CL/2130
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Background: Eleven years after its creation, the African Development Bank (AFDB) is now within months of setting up a permanent headquarters in the Ivory Coast capital, Abidjan.
On Friday (19 December), the Ivory Coast Minister of State, M. Auguste Denise joined the Senegalese Minister for Financial and Economic Affairs, Mr. Babacar Ba and the Bank's President Mr. Abdel-Wahab Labidi, of Tunisia, to lay the foundation stone for the new multi-storey building. All three signed a ceremonial parchment which was placed inside the stone.
The Bank has occupied temporary office premises in the Ivory Coast capital since its establishment in September 1964.
The proposed new block will cost some 20 million U.S. dollars (95.2 million pounds sterling) at current prices. It will comprise a four-storey base covering 4,770 square metres (5,150 square yards), and a 20-storey tower, split into two identical sections, rising to a height of 1,050 metres (929 yards).
The African Development Bank is one of Africa's most important financial institutions. It gained its fortieth member earlier this year when Guinea-Bissau joined the group. The Bank is the major contributor to the 15-member African Development Fund.
SYNOPSIS: In Abidjan on Friday, Ivory Coast Minister of State, Monsieur Auguste Denise, joined Senegalese Finance Minister, Mr. Babacar Ba, to lay the foundation stone for the African Development Bank's permanent headquarters.
The Bank's President. Mr. Abdel-Wahab Labidi, of Tunisia, displayed a model of the proposed new building, before joining Monsieur Denise and Mr. Ba in signing a special parchment marking the occasion. Since its establishment eleven years ago, the Bank has occupied temporary office premises in the Ivory Coast capital.
The parchment was then placed inside the foundation stone. The new headquarters are expected to cost around twenty million dollars. They'll comprise an extensive four-storey base and twenty-storey tower block.