Consultations, led by the Chairperson of the African Development Bank Group, Akinwumi Adesina, were held, 11 and 12 January 2018, in Abidjan, Côte d’Ivoire, between, respectively, the governors of West and Central Africa and the senior management of the institution. These are the first consultations of this nature since the creation of the Bank in 1963.
“The Bank’s Annual Meetings were previously the only forum for discussion and exchange between you, governors, and senior management. We have decided to make this annual consultation format a second opportunity to listen to you, to benefit from your wise advice and to discuss the development issues and activities of your Bank, “said Adesina. to the governors of West Africa and Central Africa together.
The ministers-governors took the opportunity of this meeting to engage in frank and direct dialogue with the senior management of the Bank. Together, Governors and senior management agreed on the swift implementation of the Bank’s five strategic priorities.High 5To “feed Africa”, “industrialize Africa”, “integrate Africa”, “enlighten and electrify Africa” and “improve the quality of life of populations in Africa”.
In the current context of sharply declining official development assistance, governors in West and Central Africa have called for a general increase in the capital of the African Development Bank, the first institution to finance development. on the continent, so that it can fully fulfill its mandate in the service of Africa.
According to an independent study by the United Nations Development Program (UNDP), concretizingHigh 5would enable Africa to achieve 90% of the Sustainable Development Goals (SDGs), just like 90% of the 2063 Agenda defined by the African Union.
‘The African Development Bank is strongon the financial plan. We are aware of the continent’s considerable resource needs, which are essential for its development. Without Africa, the world will not achieve the Sustainable Development Goals (SDGs), “confirmed Hassatou Diop N’Sele, Treasurer of the Bank Group, who is interim Finance Vice-President.
In response, the Governors acknowledged the need for a general capital increase of the African Development Bank, recalling thatthe sixth capital increase, endorsed in 2010, had brought the loan volume to a level never before achieved. Assistance to African Development Fund countries has also been multiplied by 17.
“At the height of the crisis that shook our economy, because of the fall of the oil price, it was from the African Development Bank that we had the decisive support through a substantial budget support, while other partners were very reluctant. We therefore need a strong bank capable of fulfilling its commitments and assisting us in mobilizing our internal resources, “said Nigerian Finance Minister Kemi Adeosun..
“We fully adhere to this general increase in the Bank’s capital,” said Gabon’s Minister of Economy and Finance, Régis Immongault, Governor of the African Development Bank for Gabon. We are convinced that it will give our Bank the means to support us even more than it does today in our development efforts. We have more than we need, as we face new challenges like demographics,climate changes, as well as security threats.
Guinean Minister for Development, Mama Kanny Diallo, for her part, stressed the urgency of giving the Bank sufficient resources to enable it to continue to provide leadership for development in Africa.
“The African Development Bank is the first bank in the field. It has enabled a country like mine to engage in policies to improve governance and mobilize internal resources. It allowed us to renegotiate our mining contracts in the best of our interests and to explore innovative solutions, “said Kanny Diallo.
And add: “Beyond the only case of Guinea, it is, through this increase in capital, to give the Bank the means to retain the youth of the continent here. The destiny of our young people is not to die in the sea or on the roads of the desert.
“We are very happy with the quality of the exchanges we have had. Your trip alone is enough to show your commitment to what we are doing together in the service of Africa. Given the quality of the results we have achieved and the frank and sincere atmosphere of our discussions, we have decided to include these regional consultations in our annual program, “concluded President Adesina.
Consultations on Africa’s development challenges, economic prospects and the African Development Bank’s reform agenda will continue in the near future between senior management and the governors of East, North and Southern Africa.
