AFDB Joins Forces With World Bank To Tackle Poverty, Climate Change In Africa

Posted by Eric Ojo Latest Headlines, News Around Africa Sunday, July 23rd, 2023

(AFRICAN EXAMINER) – African Development Bank (AfDB) Group and World Bank have jointly entered into a new partnership that is aimed at tackling poverty and climate change.

The transformative collaboration between the two institutions will also develop various sectors, including energy and agriculture, as well as deal with pandemics.

This was disclosed at the end of a productive working meeting between the Senior Vice President of AfDB Group, Bajabulile Swazi Tshabalala and a delegation from the World Bank led by its Managing Director for Operations, Ms Anna Bjerde.

Ms Bjerde was accompanied by the institution’s regional Vice-President for West and Central Africa, Ousmane Diagana, and other colleagues.

The meeting, which took place at the Bank Group’s headquarters in Abidjan, built upon previous discussions between World Bank President Ajay Banga and the President of the AfDB Group, Dr. Akinwumi Adesina.

The representatives of both institutions at the meeting, also agreed to jointly identify key areas for intervention and collaboration.

Both leaders equally agreed to work together to achieve transformative results in Africa. They also emphasised the role of the private sector in mobilising capital resources.

Ms Tshabalala, who was accompanied by the AfDB’s Vice-President for Regional Development, Integration and Business Delivery Marie-Laure Akin-Olugbade and several other senior managers of the Bank, provided an update on its top priorities for the continent, known as the High 5s.

She said the meeting has helped to strengthen efforts already made to tackle poverty and climate change, build young people’s capacity for promoting small and medium-sized businesses, develop the energy, agricultural and other sectors, and deal with pandemics.

The AfDB’s Senior Vice President also noted that the Bank Group’s partnerships with other institutions, such as Afreximbank, the West African Development Bank and others, for better synergies on the ground.

“A few months ago, we received the visit of the incoming president of the World Bank, and since then, we have noted that the two presidents have regular exchanges. Obviously, I think that the expectation is that they will come up with the concrete plans and objectives for cooperation, partnership, because I think this is what our shareholders are looking for.

“We want to really articulate our joint efforts very strongly, especially with the World Bank, because I think the two of us have a unique position on the continent; we do the most development work. You know our relationship is going from strength to strength”, she said.

In her remarks, Ms Bjerde lauded the Bank Group’s dedication to fostering synergies among development initiatives in Africa. She elaborated on how projects in key areas of focus, funded by the World Bank, could serve as the cornerstone for future partnerships.

According to her, these included addressing recent crises and prioritising medium-term development goals such as poverty reduction, equitable growth, and tackling climate change.

“Our precedent is huge, which is why I also wanted to make sure, during my visit, that we spend some time together, and I look forward to seeing what we can do to bring real development ultimately to a higher level. I think we’re all being called upon to become better and bigger”, she added.

Ms Bjerde’s visit comes only a few months after the AfDB Group hosted then nominee Ajay Banga, who took up his post in Washington in early May. During his stopover, Banga and President Adesina explored opportunities for collaboration.