The challenge of African Development

Over the last decade, the African continent has witnessed a sea change in the policies and programmes that countries have adopted to promote their economic and social development. Most countries now accept that their development efforts must focus on poverty reduction and sustainable economic growth and on improving their systems of governance to render them more accountable and transparent. They also acknowledge that the private sector must be the prime engine of growth and that the role of governments in productive activities should be limited and it should be focused on creating an enabling environment. There has also been consensus on the importance of regional cooperation and initiatives to build competitiveness and strength in this era of increasing globalization. The African Development Bank Group has been at the forefront of this debate and transformative process in the continent. It has assisted its regional member countries through policy dialogues held with decision - makers on the continent. It has also financed many of the projects and programmes that have been drawn up in support of this new development orientation. It has in addition consistently brought to the attention of the international donor community the importance of increasing