Tuesday, May 24, 2022

AfDB To Engage Member Countries On Africa’s Socioeconomic Devt

AfDB annual meetings

A multilateral development finance institution, the African Development Bank (AfDB) Group is set to engage member countries in strategic thematic areas to spur socio-economic development in the region.

This year’s annual meetings is themed “Achieving Climate Resilience and a Just Energy Transition for Africa” and is scheduled for May 23 to 27, 2022, in Accra, Ghana.

Speaking during a virtual, pre-annual meeting press conference yesterday (April 20, 2022), the bank group’s secretary-general, Prof. Vincent Nmehielle, said the meeting provides a platform for the bank to engage shareholders on critical areas that’ll drive development in Africa.

“The objectives of the annual meeting, as a statutory event of the bank group, are that the board of governors as the highest decision-making and oversight organ of the board group will review the annual reports on the financing, operations and other activities of the bank and the fund during the preceding year. They will adopt resolutions on key decisions and conclusions of the annual meeting.

“In addition, there will be the governor’s dialogue where governors will engage on the strategic outlook of the group in the coming years, in the attainment of the African Union agenda and the United Nation’s Sustainable Development Goals, amongst other development imperatives,” he added.

Nmehielle said the theme of this year’s meeting responds to the bank’s priority areas, particularly energy and other composite areas that speak to sustainability in Africa’s socio-economic development.

He further highlighted that one unique aspect of this year’s meeting which marks a return to in-person sessions following virtual meetings over the last two years is the commemoration of the 50th anniversary of the African Development Fund (ADF @ 50) which will be held on the fourth day of the meeting.

In his remarks, the bank group’s acting chief economist and vice president for governance and knowledge management, Prof. Kevin Urama, pointed out that the AfDB, the investment and knowledge bank for Africa, plans to organise four thematic, high-level knowledge events under the overall theme of the year during the meetings which will attract around 3,000 delegates and attendees.

“The annual meetings will feature four main knowledge events. The first is transitions in Africa, how we can drive towards net-zero carbon pathway for Africa’s development. We will use this opportunity to host an event to launch the African Economic Outlook report that focuses on supporting climate resilience and just energy transitions.

“For achieving climate resilience in Africa, we all know the relevance of climate change and sustainable development globally. This event will enable us to be able to interrogate that specific policy position of moving towards a net-zero transition in Africa and globally, what it means for Africa’s development, how Africa should respond to it and what opportunities and co-benefits there are for Africa in that new development trajectory that is here to stay,” he said.

The second knowledge event, according to Urama, is building a digital economy for a resilient Africa.

He said this event will be focusing on riding the global opportunities presented by digitisation and all the opportunities to drive a greener, more inclusive, more sustainable Africa through effective digital infrastructure for the continent. The third event slated for the third day is on green jobs for youths and women in post-COVID-19 Africa.

“We all have seen both in our African Economic Outlook (AEO) report for 2020 and the forthcoming report of 2021 that the impact of COVID-19 on jobs for youths and women, as well as unemployment generally both in Africa and globally has been significant. This particular event will look at opportunities for green jobs for African youths and women as we drive towards a post-COVID-19 recovery.

“Finally, we will have another knowledge event on the fourth day on supporting climate resilience in African agri-food systems and we will focus on building resilient rural economies for a food-secured and prosperous Africa,” he added.

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