Africa: AUC, AfDB Leaderships Reaffirm Commitment to Accelerate Africa's Economic Transformation

Addis Ababa — The Chairperson of the African Union (AU) Commission, Moussa Faki Mahamat, and African Development Bank (AfDB) President Akinwumi Adesina, have met yesterday to reaffirm their commitment to accelerate the continents economic transformation.

The leaders discussed on ways of consolidating partnership to deliver agenda 2063 and other global frameworks of development.

The institutions recognized the need to explore opportunities to accelerate implementation of programs with regional communities and partners.

In their communique, they resolved to prepare an action plan for the implementation of resource mobilization strategy and committed to work together for the successful replenishment of the African Development Fund and the Bank Group's General Capital Increase.

AUC Chairperson Mahamat said "AfDB is the financial muscle of the AU as far as Agenda 2063 is concerned and we need to further institutionalize this partnership to make it more effective."

According to the Chairperson, African Development Bank's high five strategic priorities are strongly aligned with AU's Agenda 2063 and the UN Sustainable Development Goals.

Light up and Power Africa, Feed Africa, Industrialize Africa, Integrate Africa and Improve the Quality of life for the People of Africa are the high five priorities.

AfDB President Akinwumi Adesina said there has been a long history of cooperation between the two institutions since 1963 as OAU heads endorsed AfDB's establishment.

"We must build the long-standing relations between our institutions and pool our collective expertise and resources in pursuit of the economic development and social transformation of our continent," Adesina stated.

Both leaders pledged to support the speedy implementation of various continental initiatives, such as Agenda 2063 and its 12 flagship programs.


See What Everyone is Watching

More From: ENA

Don't Miss

AllAfrica publishes around 600 reports a day from more than 150 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.