AfDB 5 priorities are making a vital contribution to Africa’s integration
The African Development Bank (AfDB) is delivering on its ambitious goals and making positive progress in achieving their development and operational targets.
This is according to the 2019 Annual Development Effectiveness Review (ADER), which the Bank released at the Annual Meetings held from 11-14 June 2019, in Malabo, Equatorial Guinea.
Every year, the Banks’s ADER examines the operational effectiveness and organisational efficiency, using the Bank’s results as a measurement framework.
The ADER brings together evidence of strengths and weaknesses to provide the Bank’s Management with a clear understanding of what has worked and what improvements the Bank must undertake to better achieve their High 5 development goals.
“The report shows that the African Development Bank has been, and will continue to be, a champion of regional integration to help Africa achieve its development priorities,” said Charles Boamah, Senior Vice-President of AfDB, “The Bank continues to be a key financier of economic integration, trade and investment, engaging in policy dialogue with regional economic communities and African countries.”
This year the ADER has a special focus on integrating Africa. The AfDB has completed a number of transformative investment projects that are helping to drive the integration agenda forward.
“We believe deeply in the prospects of economic integration to promote inclusive growth and create more and better jobs for Africans,” said AfDB Bank President Akinwumi Adesina. “Apart and divided, Africa is weakened. Together and united, Africa will be unstoppable!”
One of the ADER reports key findings is that 14 million people have benefited from improved access to transport in Africa through operations supported by the Bank in 2018.
Investment in the Trans-Gambia Bridge enabled a 40-year goal to improve connectivity between Gambia and Senegal which is now benefitting over 900,000 people.
The Addis to Mombasa Highway has opened up economic opportunities for travel and trade, whilst also encouraging greater foreign investment.
So far in 2019, Africa has achieved a major milestone. On 30 May 2019 the agreement establishing the African Continental Free Trade Area came into force, which paves the way to unlocking Africa’s economic potential and the ability to compete in global value chains.
By facilitating quality infrastructure the AfDB is promoting this progress. In 2018 it installed 447 MW of power capacity, expanded interconnector capacity in West and East Africa, and enabled 154,000 small and micro businesses to access financing and loans.
“Enhancing delivery is in our DNA, and we must continue increasing our level of performance to achieve higher development impact,” said Simon Mizrahi, AfDB Director for Delivery, Performance Management and Results.
The AfDB Bank’s efforts are helping integrate the continent and are supporting 41 countries.