“A Day Of Pride: African Development Bank Marks 60 Years Of Impact In Africa”

The African Development Bank (AfDB) celebrated its 60th anniversary on Tuesday, a momentous occasion led by Cote d’Ivoire’s President Alassane Ouattara. During the ceremony in Abidjan, President Ouattara highlighted the Bank’s vital role in financing infrastructure projects and improving the lives of millions of Africans.

“This is an historic milestone and a cause for celebration. The African Development Bank is a source of pride and hope for Africa,” said President Ouattara, while also acknowledging the challenges that remain, including floods, conflicts, and food insecurity. He called on the Bank to continue investing in critical areas such as climate, agriculture, and peacebuilding.

Dr. Akinwumi Adesina, President of the African Development Bank Group, described the day as one of “joy and pride.” He praised President Ouattara for his unwavering support, particularly in securing a $115 billion capital increase for the Bank in 2019, the largest in its history.

Since its inception in 1964, the AfDB has supported over 6,575 projects across Africa, investing $77 billion in the last decade alone. Adesina emphasized the Bank’s pivotal role in infrastructure development, making it Africa’s largest multilateral financier in this area.’

Under Adesina’s leadership, the Bank has championed key initiatives like the High 5s, focusing on lighting and powering Africa, feeding the continent, industrializing, integrating, and improving the quality of life. Over the past nine years, the AfDB’s work has impacted over 400 million lives, with projects such as the $20 billion Desert-to-Power initiative in the Sahel aimed at delivering electricity to 250 million people.

Adesina also highlighted the Bank’s efforts to mobilize funds to unlock Africa’s agricultural potential and address climate change, raising $72 billion for agriculture and $25 billion for climate adaptation.

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“This celebration is a call to action to build the Africa we want to see. May the African Development Bank continue to score development goals for Africa,” Adesina concluded.