des décisions entérinées pour consolider le rôle de la Banque dans le développement du continent

Summary of the 60th Annual Meetings of the African Development Bank in Abidjan

Overview

The 60th Annual Meetings of the African Development Bank (AfDB) concluded on May 30, 2024, in Abidjan, Côte d’Ivoire. The meetings focused on strengthening the AfDB’s role in enhancing development across Africa, emphasizing resource mobilization for structural transformation and sustainable, inclusive growth.

Key Outcomes

Enhancing AfDB’s Role

In a final communiqué, AfDB governors highlighted the critical need for the bank to mobilize resources to accelerate Africa’s structural transformation. They underscored the importance of achieving sustainable growth aligned with the United Nations’ 2030 Sustainable Development Goals, the African Union’s Agenda 2063, the Paris Agreement on climate change, and the Kunming-Montreal biodiversity framework.

Performance and Strategy

The governors praised AfDB’s strong operational and financial performance in 2024, along with its prudent risk management. They encouraged the full implementation of the bank’s Decade Strategy for 2024–2033 and noted the adoption of recommendations from the G-20 regarding capital adequacy frameworks for multilateral development banks, indicating a commitment to coordinated action in essential areas.

Collaboration and Partnerships

An emphasis was placed on enhancing collaboration with regional and non-regional member governments, as well as strengthening partnerships with the African Union and other development stakeholders. The meetings recognized the importance of youth in Africa’s transformation, advocating for targeted investments in job-generating sectors and addressing barriers such as limited access to funding and regulatory constraints.

Funding the African Development Fund

Participants stressed the need to improve the financing capacity of the African Development Fund (ADF) by utilizing market borrowing and contributions from member countries. This move aims to boost the fund’s ability to support development projects effectively.

Promoting Intra-African Trade

The AfDB reaffirmed its unwavering commitment to promoting intra-African trade and regional integration, aligning its efforts with the African Continental Free Trade Area (AfCFTA). This includes investing in quality infrastructure to facilitate trade.

Water Security Initiatives

The governors called for a comprehensive approach to achieving water security across Africa, recognizing its interconnection with food security. This holistic view is vital in addressing challenges posed by climate change and resource scarcity.

Leadership Acknowledgement

The assembly acknowledged the outgoing president of the AfDB, Akinwumi Adesina, for his inspiring leadership over the past decade, which helped the institution navigate complex developmental challenges. Congratulations were also extended to the newly elected president, Sidi Ould Tah, who will assume office on September 1, 2024.

Future Assemblies

The next Annual Meetings of the AfDB are scheduled to take place in Brazzaville, Congo, from May 25 to 29, 2026.

Conclusion

The 60th Annual Meetings of the AfDB served as a platform for discussing crucial developmental issues facing Africa, outlining strategic actions to mobilize resources, support youth initiatives, enhance intra-African trade, and ensure sustainable growth. The decisions made during these meetings emphasize the bank’s pivotal role in responding to the continent’s challenges and shaping its future.