AfDB meetings to focus on Africa financing gap
DAR ES SALAAM: THE upcoming African Development Bank (AfDB) Group Annual Meetings will focus on mobilising largescale financing to address Africa’s widening development gap amid growing global economic uncertainty.
The meetings are scheduled to take place in Brazzaville Congo from May 25 to 29 this year under the theme: “Mobilising Africa’s Development Financing at Scale in a Fragmented World.” During a recent hybrid press briefing held in Abidjan on behalf of the Bank Group Secretary General, Vincent Nmehielle, Director of Board Affairs and Proceedings, Chioma Onukogu, said the theme reflects the urgent need to bridge financing gaps facing African economies amid declining global development funding.
“The annual meetings remain one of the Bank Group’s key statutory events where governors review financial performance, operations and activities undertaken during the preceding financial year.
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About 3,000 delegates are expected to attend the 61st Session of the Board of Governors of the AfDB and the 52nd Session of the Board of Governors of the African Development Fund.
The dialogue is expected to discuss implementation of the recently adopted “Abidjan Consensus” on the New African Architecture for Development (NAFAD), a framework aimed at reshaping mobilisation and deployment of capital and investment risk across Africa.
Meanwhile, AfDB Chief Economist and Vice-President for Economic Governance and Knowledge Management, Professor Kevin Urama, said Africa faces significant financing requirements to meet its infrastructure and development ambitions.
The AfDB Group comprises 81 member countries, including 54 African nations (Regional Member Countries) and 27 non-regional members (primarily in Europe, Asia, and the Americas).
The Bank provides financial support, technical assistance, and investment to foster economic development across Africa.
