Press Release – AFRODAD and Partners ask for the Reform of the Special Drawing Rights Allocation System and the Global Financial Architecture.

 [Nairobi, Kenya. 31 May 2024]. Africa Development Bank (AfDB) Group is currently holding its Annual Meeting in Nairobi, Kenya. The theme of the Group’s 59th Annual Assembly meeting is “Africa’s Transformation: the African Development Bank, and the Reform of the Global Financial Architecture”. 

The theme is set against the realisation that, despite sustained economic growth over the past two decades, Africa’s economic transformation remains a work in progress with a lot more to be done. 

The Bank carries both implicit and explicit responsibilities to provide the necessary development financing for sustainable economic development and social progress for African countries. We therefore ask that the Bank should position itself as an indispensable player when it comes to the need to influence changes in the global financial architecture, including the SDRs allocation and rechanneling process.