By Obinna Uballa
The President of the African Development Bank Group (AfDB), Dr. Sidi Ould Tah, has urged development partners and world leaders to step up financing and forge stronger partnerships to help Africa achieve its development goals, a statement from the bank said on Thursday.
Speaking on the sidelines of the ongoing 80th United Nations General Assembly (UNGA80) in New York, Dr. Ould Tah praised Africa’s resilience in the face of economic and social challenges but stressed that the continent cannot unlock its potential without a renewed global commitment to concessional financing and inclusive partnerships.
High on the AfDB president’s agenda are resource mobilization, climate action, regional integration, and reform of Africa’s financial architecture, the statement said.
The AfDB president also pushed for support for the African Development Fund (ADF), the Bank’s concessional lending arm, which is due for replenishment in December. The fund is a vital source of financing for 37 low-income African countries.
“Africa needs a new financial system built on mutual strengths,” Dr. Ould Tah said, emphasizing the need for investments in climate-resilient infrastructure, job creation for women and youth, and strategies to turn Africa’s demographic growth into a dividend.
Since arriving in New York, Dr. Ould Tah has held meetings with several global leaders, including UN Deputy Secretary-General Amina J. Mohammed, with whom he discussed closer cooperation between the Bank and the UN, according to the statement.
He also met with UNFPA Executive Director, Ms. Diene Keita, reaffirming AfDB’s commitment to maternal health and women empowerment. “This means investing in mothers and girls today,” he noted.
In a bilateral meeting with Botswana’s President Duma Gideon Boko, discussions centred on diversifying the economy beyond diamonds and strengthening regional rail interconnectivity. Dr. Ould Tah stressed that Africa’s natural resources must be developed as engines of job creation.
Other high-level engagements included talks with Sheikh Shakhboot Nahyan Al Nahyan, UAE Minister of State for Foreign Affairs, who pledged his country’s readiness to back the Bank’s mission.
Dr. Ould Tah will today take part in the launch of Mission 300, a joint AfDB – World Bank initiative aimed at connecting 300 million Africans to electricity by 2030 through new National Energy Compacts.
A trilateral meeting is also scheduled with the Chairperson of the African Union Commission, Mahmoud Ali Youssouf, and the Executive Secretary of the UN Economic Commission for Africa, Claver Gatete, to address continental development priorities.
The AfDB president underscored that, despite shrinking global aid flows, momentum must be sustained for Africa’s transformation. “Our partners must seize this opportunity to invest in Africa’s future,” he said.
