Download logoAfrican Development Bank Group (www.AfDB.org) president, Dr. Akinwumi A. Adesina, is leading his institution’s delegation to the African Union’s Executive Council and Assembly meetings taking place in Addis Ababa this week.
Adesina and his team will use the summit as an opportunity to promote key issues on the African Development Bank Group’s agenda.
This includes mobilizing financing for Africa’s accelerated economic recovery from the Covid-19 pandemic, and the all-important topic of nutrition, which is a key component of the African Development Bank’s Feed Africa priority.
The African Union theme for 2022 is Building resilience in nutrition on the African continent: Accelerate the human capital, social and economic development.
This year’s summit is a landmark one, marking 20 years of the African Union. Adesina will make a presentation on Mobilizing Financing for Africa’s Accelerated Economic Recovery Development and Integration. In recent months, the development bank chief has championed the case for developed countries redeploying part of their allocation of the International Monetary Fund’s Special Drawing Rights (SDRs) to poorer countries.
The African Development Bank, a prescribed holder of SDRs, is strategically poised to act as a channel for a portion of the SDRs coming to the continent, which it could then lend on to help strengthen the balance sheet of African public development banks, mitigate risks associated with medium- to long-term finance and help close financing gaps. The African Development Bank estimates that African countries need $485 billion in the next three years to emerge from the current crisis.
Members of the Bank’s delegation are also taking part in sessions and side events on smart finance, and transport, as well as infrastructure and tourism during the summit, which ends on Sunday.
Distributed by APO Group on behalf of African Development Bank Group (AfDB).Media Contact:
Amba Mpoke-Bigg
Communication and External Relations Department
African Development Bank
email: a.mpoke-bigg@afdb.org
The African Development Bank Group (AfDB) is Africa’s premier development finance institution.
It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF).
On the ground in 44 African countries with an external office in Japan, the AfDB contributes to the economic development and the social progress of its 54 regional member states.
Share on Facebook «||»
Share on Twitter «||»
Share on Reddit «||»
Share on LinkedIn
Read Related News On TDPel Media
Advertisement
Seychelles President arrives in Addis Ababa Ethiopia for 35th Ordinary Session of the Assembly of African Union (AU): Mr Wavel Ramkalawan, the President of the Republic, arrived in Addis Ababa, Ethiopia, yesterday afternoon for the 35th Ordinary Session of the African Union (AU)...
President Ramaphosa to participate in 35th ordinary session of Government of African Union: Cyril Ramaphosa will lead South Africa’s delegation to the African Union’s 35th Ordinary Session of the Assembly of Heads of State and Government (AU). The...
African Development Bank’s African Leaders for Nutrition lauded by African Union during Assembly declaration of 2022 as “African Union Year of Nutrition”: The African Union has recognized the African Leaders for Nutrition program, which is based at the African Development Bank (www.AfDB.org), for its progress in increasing...
ECOWAS commission led by President HE Jean-Claude Kassi brou participates in the thirty-fifth ordinary session of the assembly of the African Union: Abuja, Nigeria February 08, 2022. After the 40th Ordinary Session of the Executive Council, the 35th Ordinary Session of the Assembly of the African Union...
HM The King’s report on operationalization of African Migration Observatory in Morocco presented at 35th Session of AU Assembly: Mr. Nasser Bourita, Minister of Foreign Affairs, African Cooperation, and Moroccan Expatriates, presented the Report of HM King Mohammed VI, Leader on the Issue of...
African Development Bank Group and Africa50, in partnership with African Union Commission and AUDA NEPAD, to create Alliance for Green Infrastructure in Africa with global partners: The Alliance will: catalyze bankable, greener infrastructure projects at scale and speed; raise up to $500 million of early-stage project development and project preparation capital...
Buhari arrives Addis Ababa ahead of 35th AU session: President Muhammadu Buhari has arrived in Addis Ababa, Ethiopia, ahead of the 35th Ordinary Session of the Assembly of the Africa Union Heads of State...
All set for 2nd Ordinary Session of ECOWAS Parliament in Abuja: By Maureen Okon All is set for the 2023 Second Ordinary Session of the Economic Community of West African States (ECOWAS) Parliament in Abuja as...
The Era of Isolationism is Long Over: Mr. Abdulla Shahid, President of the 76th Session of the UN General Assembly and the Foreign Minister of Maldives at the World Sustainable Development Summit: Making an emphatic pitch for multilateralism at the World Sustainable Development Summit (WSDS) 2022 in New Delhi on Friday, Mr. Abdulla Shahid, President of the...
African Union welcomes $11.48 million grant from the African Development Fund to strengthen delivery of Agenda 2063: The African Union Commission (AUC) will soon benefit from an $11.48 million grant from the African Development Fund to strengthen its governance and provide it...