ADDIS ABABA: The African Development Bank Group announced a plan to increase its financing capacity by over $70 billion as it launched a new Ten-Year Strategy during its Annual Meetings in Nairobi.
According to Ethiopian News Agency, the strategy for 2024-2033 aims to address Africa’s pressing challenges and promote sustained economic growth and prosperity. Central to this vision is leveraging Africa’s young and fast-growing workforce, urban markets, natural resources, and clean energy potential. The strategy focuses on accelerating inclusive green growth and fostering prosperous and resilient economies. Adesina emphasized the Bank’s commitment to investing in Africa’s human capital and advancing environmental sustainability while balancing economic progress. The strategy builds on the past decade’s successes, aiming to scale up transformative projects and streamline operations for greater effectiveness. The Bank’s High 5 priorities—lighting up and powering Africa, feeding Africa, industrializing Africa, integrating Africa, and improving the quality of life—remain integral to achieving these objectives.