ADDIS ABABA, Feb. 24 (Xinhuanet) -- President of the African Development Bank (ADB), Donald Kaberuka arrived here on Friday to pay a three-day working visit to Ethiopia, aimed at strengthening cooperation between the bank and Ethiopia.

    While arriving at the Bole International Airport, Kaberuka told journalists that the cooperation between Ethiopia and the ADB is at a "excellent stage."

    The ADB president also expressed the bank's readiness to strengthen its relation with Ethiopia, which he said is among the countries that benefit most from the bank.

    A grant agreement will be signed between Ethiopia and the ADB during his three-day visit, he said.

    Kaberuka will also discuss with Executive Secretary of the UN Economic Commission for Africa (ECA), Abdoulie Janneh and Chairperson of the African Union Commission, Alpha Omar Konare, officials said.

    The ADB was established in 1964 under the auspices of the ECA and began operation in 1966. The main office is in Cote d'Ivoire.

    The bank obtains its funds from cash subscriptions from regional and non-regional members. In order to retain the bank's African character, regional members subscribe two-thirds of the total capital stock. Enditem