TANZANIA is expected to hold the position as alternate executive director in the Group of East African governors in the African Development Bank (AfDB) from August, this year.

Dr Natu El-Maamry Mwamba, the Treasury permanent secretary unveiled this here yesterday during the meeting of the governors of the group for East Africa that are members of the AfDB in preparation for the 2024 meetings of the Board of Governors (Ministers of Finance from member countries) that kicked off yesterday in Nairobi, Kenya. The meetings are themed: “Africa’s Transformation, African Development Bank Group, and Reform of the Global Financial Architecture.”

Dr Mwamba explained that the AfDB has established a system of rotation of leadership in the countries of the East African region, which is the executive director and the advisor.

“In this meeting we have also discussed the cycle of leaders who are the executive director and advisor and we in Tanzania from August, 2024 will hold the position of alternate executive director in the bank who will be taking the position of executive director during emergency or excuse,” said Dr Mwamba.

Dr Mwamba said that the meeting discussed the changes in the country’s climate that have recently been causing various disasters and agreed to establish a disaster fund that will help countries that will be affected by these changes including the unexpected El Nino rains.

“We have also discussed climate change and how to increase capital, but also the countries that experienced floods caused by heavy rains that occurred this year will also be on the agenda to be discussed in the General Meeting,” added Dr Mwamba.

The meeting of the group of East African Countries which has involved delegates from nine countries namely Tanzania, Kenya, Uganda, Rwanda, Ethiopia, Somalia, South Sudan, Eritrea and Seychelles, is a prelude to the 59th Annual Meeting of the African Development Bank (AfDB) held in Nairobi.