held at the Sudanese Parliament House, Khartoum, on Sunday, 4 August 1963, at 12.00 noon.
Chairman: Mr. Abdel Maged AHMED (Sudan).
CONTENTS:
Closing Addresses.
Approval of Credentials.
Signature of the Agreement Establishing the African Development Bank.
Signature of the Final Act of the Conference.
CLOSING ADDRESSES.
The CHAIRMAN said that the Conference could take pride in having established the first all-African financial institution. That achievement, which realized a dream deeply enshrined in every African heart. was a significant event in the history of Africa. It represented African confidence in itself and in its future and demonstrated the deter-mination of Africans to catch up with the rest of the dcveloped world. It embodied, as President Abboud had said in his inaugural address, "African solidarty in its highest degree".
During the debates he had on several occasions felt some anxiety when temperatures had run high in the great desire to reach a dechion. But the dif-ferences expressed had never been differences of principle, because all were working for a common objective.
The work of the Conference had been greatly facilitated bythe loyal co-operation 9f the secretariat;
special thanks were due to Mr. Gardiner. Mr. Ewing, the Secretary of the Conference and the Legai Adviser.
The Agreement which was about to be signed would mark the beginning of a long and painful process before the concept of the African Develop-ment Bank became a reality of African life. It would therefore require continuing moral and material support; hut he was confident that every African State would fulfil its obligations and live up to the expectations inherent in the Agreement.
Mr. WALTERS (Mauritius) commended the spirit of sincerity and genuineness that had prevailed tbroughout the Conference and which might well mark the bc,inning of Africa's finest hour. Although differences and difficulties had emerged during the deliberations, they had been discussed with objectivity and respect for each others' personality and beliefs. That was why the success of the Con-ference would be written in gold letter" in the annals of Africa.
Thanks were due to the secretariat for its de-voted team~work, and to the Government of the Sudan which had offered such generous hospitality.
All those present at the Conference would be able to go home and tell the world they had found the concept of solidarity, equality and progress. Words were not sufficient; they had to be backed by deeds;
but the deeds that were being accomplished would be for all the world to contemplate and to say:
"Those people mean business".
Mr. de PAIVA LEITE (Observer for the Inter-American Dvelopment Bank), addressing the Conference in his capacity as Director for Brazil of the Inter-American Development Bank, informed it that his Government proposed to contribute to the African Development Bank the equivalent of US
$20 million in national currency as soon asthe Agree-90
ment entered into force, under its provisions govern-ing the establishment of Special Funds. The Brazilian contribution would he subject to such terms and conditions as were mutually agreed between the Bank and the Brazilian Government in accordance with its national legislation.
Mr. KAMITATU (Congo (Leopoldville) pointed out that he had requested at the Preparatory Meeting that a resolution should be submitted as an annex to the final document concerning the subscription of Congo (LeopoldvilIe). He asked the Conference to take note of the following statement: "The re-presentative of the Congo (Leopoldville) drew the Conference'5 attention to the current economic difficulties facing his country and made a request for spcdal conditions which would enable his Govern-ment to make smaller payGovern-ments during the first few years, and to spread them over ten years and not over the period mentioned in Article 7 of the Agree-ment establishing the Africfln DevelopAgree-ment Eank."
He proposed that the Confercnce should decide that the matter be suhmitted to the Board ofGovcrn~
ors of the Bank, which would consider it in consultation with the authorities of Congo (Leo-poldville).
It was so decided.
Mr. GEORGES (Observer for France) stated that his presence as observer evidenced the great interest his country took in the basic aim of the Meeting which had been to achieve a new step for-ward tofor-wards African unity. The outside world would note with great satisfaction the setting up of an African institution which would plomote the har-monization of African economies. It would view with sympathy the patiencc, tcnacity and determina-tion to find a common denominator, a generally acceptable solution, which had been manifested at the Conference. All the observers had been highly impressed by the fuith in Africa shown by the participants and the conviction, which had guided themeven in the most difficult moments, that it would achieve unity. It hud to be remembered that
Europe-an~ were confronted with the same problems on their own continent; they Were aware of the inevitable difficulties and delays that occurred in .trying to reach decisions among a community of countries. Hence, though the ultimate stage of -agre~ment was yet to be attained, the work done would be considered as a very important and promising achievement.
France was ready to provide the African Development Bank with technical assistance and experts, and to receive trainees in those public and quasi-public bunking and financial institutions in France whose functions were similar to those of the future African Bank. Others forms of co-operation might be envisaged as time went on.
Mr. ROUNTREE (Observer for the United States of America) expressed his pleasure at huving witnessed the deliberations which had taken further
towards fruition the concept of<:til African Develop-ment Bank; the success of the Conference was a source of great satisfaction to his country, as to all those who supported the hopes and aspirations of the peoples of Africa. The Conference had con-tributed greatly to the ideals proclaimed at Addis Ababa. The United States had long been interested in helping African efforts to develop African econom-ic and social institutions and so to raise the living standards and well-being of the peoples of that continent. It had provided concrete assistance for that purpose both directly and through the United Nations and its specialized agencies. In that same spirit it was prepared to consider requests for tech-nical assistance to help establish and operate the new Rank. Furthermore, when the Bank was estab-lished and operating, the United States was pre-pared to consider loans to the Bank for specific projects. It regarded the Bank as a concrete example of African co-operation and African initiative, likely to serve a highly useful purpose and attract new sources of capital to Africa.
Mr. WALMSLEY (Observer for the United Kingdom) said that he had greatly valued the pri-vilege of being able to attend such an important and interesting Conference. His Government regarded both the preparations for and the work of the Con-ference as an extremely valuable achievment. It was continuing its consideration of the means which could be adopted to further the objectives of the Bank.
Mr. SCHAEFFER (Observer for the European Economic Community) regretted that he and the representative of the European Investment Bank had been unable to attend the Conference from the beginning. However, they would make a full report of its results to their respective institutions, which would not fail to continue taking an interest in the future progress of the Bank.
Mr. GARDINER (Executive Secretary, ECA) drew attention to operative paragraph 3 of resolution 3 adopted concerning the preparatory work for the establishment of the African Development Bank In order to receive contributions to its cost, it would be necessary for the United Nations to set up a special account and to provide, in accordance with relevant United Nations financial regulations and rules, financial services in respect of the receipt, custody and disbursement of funds received into that special account. It might be envisaged that any funds received from non-African, as well as those forthcoming from African sources should be paid into the special account. A decision to set up that account should be taken by the General Assem-bly. He hoped such a decision would he forthcoming in view of the resolution passed by the Conference.
The Conference took note ~r this statement, A matter in the Agreement still required clari-fication. Under Article 65 the Agreement would
enter into force upon the deposit of ratifications by twelve Signatory Governments whose initial subscriptions amounted to not less than 65 per cent of the "authorized capital stock" of the Dank.
This 65 per cent had been intended to represent 65 per cent of a capital equivalent to 211.2 million units of account. Although the authorized capital had since been increased to 250 million units of account, this was not intended to alter the meaning of Article 65.
He requested authority from the Conference to attach a Memorandum to the Final Act of the Conference making this particular meaning of the words "authorized capital stock of the Bank" in Article 65 clear.
It was so agreed.
APPROVAL OF CREDENTIALS.
The CHAIRMAN announced that the Steering Committee, which at this Conference had dealt with credentials and full powers of participants, had found the credentials issued by the following Govern-ments to their delegations in good and due form;
Algeria, Burundi, Cameroun, Central African Republic, Chad, Congo (Brazzaville), Congo (Leo-poIdville), Dahomey, Ethiopia, Gabon, Ghana, Ivory Coast, Kenya, Liberia, Libya, Madagascar, Mali, Mauritania, Morocco, Mauritius, Niger, Nigeria, Federation of Rhodesia and Nyasaland, Senegal, Sierra Leone, Somalia, Sudan, Tanganyika, Tunisia, Uganda, United Arab Republic, Zanzibar,
The CHAIRMAN proposed that these delega-tions should be considered duly accredited to take part in the work of and to take decisions at the Conference.
II was so decided.
Credentials submitted by the following observers had been found in good and due form:
Governments:
Belgium, Czechosolovakia, Federal Republic of Germany, France, India. Italy, Japan, Nether-lands, Pakistan, Sweden, Switzerland, Union of Soviet Socialist Republics, United Kindgom of Great Britain and Northern Ireland, United States of America, Yugoslavia.
International Organizations:
FAO, WHO, UNESCO, United Nations Special Fund, !BRO, IADB, CCTA OAMCE, League of Arab States. Afro-Asia Economic Organization for Economic Cowoperation, European Economic Com-munity, European Investment Bank. The Chairman proposed that these observers should be considered as duly accredited to attend the Conference.
It was so decided.
SIGNATURE OF THE AGREEMENT ESTABLI-SHING THE AFRICAN DEVELOPMENT BANK.
The CHAIRMAN invited the Conference to recognize the full powers to sign diplomatic instru~
ments as issued by the following Governments to be in good and due from:
Algeria, Burundi, Central African Republic, Congo (Leopoldville), Ethiopia, Ghana, Kenya, Liberia, Libya Mali, Mauritania, Morocco, Niger.
Nigeria, Sierra Leone, Somalia, Sudan, Tanganyika, Tunisia, Uganda, United Arab Republic,
II was so decided,
Mr. MOCKEY (Ivory Coast) informed the Conference that full powers had been sent to him by his Government but had not yet arrived,
Mr. DIAWADOU BARRY (Guinea) stated that he had received a telegram from President Sekou Toure and the Minister for Foreign Affairs req uesting him to sign the Agreement pending the arrival of full powers.
Thc CHAIRMAN invited the Conference to decide that the representatives of Guinea and Ivory Coast were authorized to sign the Agreement.
It was so decided.
The CHAIRMAN stated that the Finance Minister of Somalia was shortly to arrive and that after his papers had been examined, he would be able to sign the Agreement.
The CHAIRMAN informed the Conference that the following Governments had already signed the Agreement: Ethiopia, Kenya, Liberia, and Tanganyika.
Mr. GARDINER (Executive Secretary, ECA) called out the names of those States which were empowered to sign and the following representatives proceeded to sign the Agreement: Algeria, Burundi, Central African Republic. Congo (Leopoldville), Ghana, Guinea, Ivory Coast, Libya, Mali, Mauritania, Morocco, Nigeria, Sierra Leone, Sudan, Tunisia, Uganda, United Arab Republic.
Mr. GARDINER (Executive Secretary, ECA) stated that the Government of Cameroun intended to sign the Agreement as soon as possible.
The CHAIRMAN proceeded to append the seal to the Agreement.
Mr. GARDINER (Executive Secretary, ECA) stated that in accordance with its Article 63 the Agreement was open for signature up to 31 Decem-ber 1963 and that it would be deposited with the Secret General of the United Nations in New York.
SIGNATURE OF THE FINAL ACT OF THE CONFERENCE.
The following representatives proceeded to the signature of the Final Act:
Algeria, Burundi, Cameroun, Central African Republic, Congo (Leopoldville), Ethiopia, Ghana, Guinea, Ivory Coast, Liberia. Libya, Mali, Mauri·
tania, Mauritius, Morocco, Nigeria, Federation of Rhodesia and Nyasaland, Sierra Leone, Sudan, Tanganyika, Tunisia, Uganda, United Arab Re-public, Zanzibar.
The CHAIRMAN proceeded to affix the seal to the Final Act.
Mr. MOCKEY (Ivory Coast) expressed the thanks of the Conference to the Government and people of the Sudan, and particularly the city of Khartoum, for their warm hospitality.
Mr. GARDINER (Executive Secretary, ECA) endorsing those thanks, also expressed appreciation of the helpful co-operation all participants in the Conference had shown to its secretariat.
Mr. de SEYNES (Under-Secretary) conveyed to the Conference the sincere wishes of the Secretary-General and the United Nations specialized agencies for the success of the undertaking it had embarked upon. It had been a great ptivilege for the United Nations to assist at the birth of an in<titution which, though it would henceforth gravitate in its own orbit, would certainly remain closely linked with various United Nations bodies and would be working in a spirit which was that of the United Nations and for objectives which were those of the United Nations.
Mr. MANGASHA (Ethiopia) requested that special mention should be made in the Conference records of the help offered by the Government of Brazil and the Inter-American Development Bank.
The CHAIRMAN declared the Conference closed.
The Meeting rose at 1.40 p.m.
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-AGREEMENT ESTABLISHING THE