The Association of African Development Finance Institutions (AADFI) held its 33rd Ordinary General Assembly in Shanghai, People’s Republic of China on 14 May, 2007.

The Opening ceremony, the working sessions and the closing ceremony were held at the International Convention Center, Shanghai, People’s Republic of China. Opening statement was made by Mrs Neo Sowazi, 1st Vice-Chairperson of AADFI and keynote address was delivered by Mr Mandla Gantsho, Vice-President, Infrastructure, Private Sector and Regional Integration of the African Development Bank (ADB). 46 delegates from 30 member-institutions and observers attended the 33rd Ordinary General Assembly.

In her address, Mrs Neo Sowazi on behalf of the outgoing Chairman of AADFI Mr Victor J. Nembelessini-Silué, thanked the Chinese Authorities for the warm welcome extended to delegates as well as the excellent facilities put at the disposal of the Association for the holding of the meetings. She underscored the main achievements of AADFI under the stewardship of Mr Nembelessini-Silué, namely the successful completion of the Model Prudential Standards and Guidelines for African DFIs, the provi sion of a new website for the Association, the increased spirit of ownership and quality of participation of member-institutions and the coming back of some former member-institutions as well as strengthening the ranks of the Association’s core group of regular members.

She also stated that the vigorous campaign to recover subscriptions arrears as well as the willingness of the core group of regular members to pay their contributions enabled the Association to ensure its viability. In the same vein, she indicated that the joint efforts of the Executive Committee and member- institutions in 2006 had been fruitful once again as the Association could declare a net positive surplus of 15,600 Euro on its financial statements compared to a deficit of 52,391 Euro in 2004.