Kenya will host the African Development Bank Group’s 59th annual meetings slated for May next year with the two now expected to enter an agreement in preparations for the event.
This will be the fourth time the country will play host to the meetings having played host in 1968, 1993 and 1994.
National Treasury and Economic Planning Cabinet Secretary Prof Njuguna Ndung’u on Thursday will sign a Memorandum of Understanding with AfDB’s Secretary General Prof Vincent O. Nmehielle detailing arrangements for hosting the meeting.
According to AfDB, the two parties will also sign an Aide Memoire, outlining in greater detail, the various activities to be undertaken by the two parties towards implementing the MoU.
Kenya is one of the largest recipients of AfDB funding with a portfolio of about Ksh 577.2 billion ($3.9B) as at the end of August this year covering infrastructure, transport, water, sanitation, and energy.
The meeting which is one of the largest economic gatherings in the continent will be attended by at least 4000 delegates including finance ministers from 82 countries who are members, business executives, civil societies, academia and development practitioners.
AfDB held its annual meetings this year at Sharm El Sheikh in Egypt.