Climate change: AfDB, World Bank to Set Path for Transformative Collaboration In Africa

The African Development Bank (AfDB) Group and the World Bank have recently agreed to collaborate on identifying key intervention areas that will drive transformative change in Africa.

Emphasizing the role of the private sector in mobilizing capital resources, the two institutions aim to achieve transformative results on the continent.

The agreement was reached recently, during a productive working meeting in Abidjan, the capital city of Cote d’Ivoire. Bajabulile Tshabalala, Senior Vice-President of AfDB, and a delegation led by Anna Tshabalala, Managing Director for Operations of the World Bank, made the agreement.

The collaboration aims to strengthen efforts to address poverty, climate change, and development in various sectors, including energy and agriculture, as well as preparedness for pandemics.

Building upon previous discussions between AfDB’s President, Akinwumi Adesina, and World Bank President, Ajay Banga, the meeting further solidified their cooperation.

During the meeting, AfDB’s Senior Vice-President outlined the Bank Group’s top priorities for the continent, known as the High 5s.

The Bank was represented by Marie-Laure Akin-Olugbade, Vice-President for Regional Development, Integration, and Business Delivery, along with several senior managers.

Tshabalala highlighted the benefits of the meeting, emphasizing efforts to tackle poverty and climate change, as well as capacity-building for young entrepreneurs and small and medium-sized businesses.

She expressed their focus on developing the energy, agricultural, and other sectors, along with strategies to handle future pandemics.

Regarding partnerships, Tshabalala mentioned collaborations with other institutions, such as Afreximbank and the West African Development Bank, to ensure better synergies on the ground.

She stressed the importance of articulating joint efforts with the World Bank, as both institutions have a unique position on the continent, undertaking significant development work.

Meanwhile, the World Bank’s Managing Director for Operations, Bjerde, commended AfDB’s dedication to fostering synergies among development initiatives in Africa.

She discussed how World Bank-funded projects in key focus areas could lay the foundation for future partnerships, including addressing recent crises, poverty reduction, equitable growth, and tackling climate change.

Bjerde’s visit came just a few months after AfDB 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.

The collaboration between AfDB and the World Bank represents a significant step towards driving transformative change in Africa. By leveraging their unique positions and resources, the two institutions are poised to make a substantial impact on the continent’s development goals.