25 February 2018
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African Development Bank (Abidjan)

President Adesina Leads Bank Delegation to Nordic Countries

Finland, Sweden, Norway and Denmark — A high level African Development Bank delegation led by its President, Akinwumi Adesina, will early next week visit four Nordic countries as part of efforts to further accelerate the implementation of the High 5s, which are crucial in transforming the lives of African peoples, in line with the United Nations agenda on Sustainable Development Goals (SDGs).

The visit, scheduled for February 25-28, 2018, will involve different meetings with top goverment officials and the private sector in Finland, Sweden, Norway and Denmark.

The Bank and its Nordic constituency share a long standing partnership. President Adesina is expected to share progress on the Bank's institutional reform and lay the groundwork for 7th General Capital Increase and seek the Nordic countries' support.

During his visit to Helsinki, Finland on February 26, President Adesina will hold a bilateral meeting with Elina Kalkku, Under-Secretary of State Development Policy and Governor for her country in the Bank. The meeting will focus on the broader perspectives of Africa's development and the Bank's financial sustainability.

Adesina will on same day meet with the Minister for Trade and Development Cooperation, Anne-Mari Virolainen, and also participate in a round table on Finnish know-how in vocational training and digital learning.

In Stockholm, Sweden, the Bank's delegation will meet with State Secretary for International Development Cooperation and Climate and Governor, Ulrika Modéer on the current Swedish development cooperation priorities in relation to Agenda 2030, Agenda 2063 and COP21. The meeting will also deliberate on the Bank's future role in the global context.

A meeting with Fossil Free Sweden initiative, National coordinator Svante Axelsson will highlight how they move from policy to implementation in order to achieve the important goal that they have set to help solve climate issues and achieve the goal of a fossil free society.

On Tuesday February 27, 2018 in Oslo, Norway, President Adesina will meet with Jens Frølich Holte, State Secretary, International Development (Governor the Bank ) to discuss the role of the African Development Fund (ADF) and the African Development Bank (AfDB) in the coming years and the general capital increase.

The President wil also meet with Ambassador Knut Vollebæk (former Minister of Foreign Affairs) and then with Kjell Roland, Managing Director of Norfund ( a private equity company established by the Norwegian Storting in 1997 and owned by the Norwegian Ministry of Foreign Affair). A seperate meeting with Parliamentary Committee on Foreign Affairs and Defense will focus on Financing for Development: AfDB's strategy for pursuing the "billions to trillions" agenda.

The President will on the same day deliver a speech at a parivate sector event organized by the Norwegian- African Business Association (NABA) on "Economic Outook and Investment opportunities for Norwegian companies in African markets".

On Wednesday, 28 February 2018, the delegation will move to Copenhagen, Denmark, where the President will have series of high-level meetings.

The African Development Bank needs a general capital increase to accelerate the High 5s and the Sustainable Development Goals (SDGs) to benefit low and middle-income countries. The Bank's 2018 project pipeline was $15 billion.

The last general capital increase (VI) enabled the Bank to double its lending and to increase 17-fold the value of loans to African Development Fund (ADF) countries. The Bank aims to use market options to raise more resources for the African Development Fund.

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