The African Development Bank (AfDB) Group and the World Bank have agreed to collaborate to identify key areas for intervention that will transform Africa.
The agreement comes after a productive working meeting in Abidjan, a follow-up to a previous between World Bank President Ajay Banga and AfDB’s President, Akinwumi Adesina.
The agreement was made by Senior Vice-President of AfDB, Bajabulile Tshabalala and a delegation from the World Bank led by its Managing Director for Operations, Anna Tshabalala
In a statement on its website, AfDB says the collaboration will strengthen efforts to tackle poverty and climate change, develop various sectors, including energy and agriculture, and deal with pandemics.
The AfDB’s Senior Vice-President provided an update on the Bank Group’s top priorities for the continent, known as the High 5s.
Tshabalala was accompanied by the Vice-President for Regional Development, Integration and Business Delivery Marie-Laure Akin-Olugbade and several of the Bank Group’s senior managers.
She said the benefit of the meeting was to strengthen efforts already made to tackle poverty and climate change and build young people’s capacity for promoting small and medium-sized businesses.
“The meeting also aims to develop the energy, agricultural and other sectors, and help deal with future pandemics,” she said.
Tshabalala explained that the Bank was in partnerships with other institutions, such as Afreximbank, the West African Development Bank and others, for better synergies on the ground.
She said: “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 the expectation is that they will come up with the concrete plans and objectives for cooperation and partnership, because I think this is what our shareholders are looking for.
“We want to strongly articulate our joint effort with the World Bank, because 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.”
Meanwhile, the World Bank’s Managing Director for Operations lauded the Bank Group’s dedication to fostering synergies among development initiatives in Africa.
Bjerde elaborated on how projects in key areas of focus, funded by the World Bank, could serve as the cornerstone for future partnerships.
She said 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 want 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,” Bjerde said.
