The President of the African Development Bank (AfDB) Group, Dr Akinwumi Adesina, is scheduled to pay a working visit to Ghana from August 1 to August 3, 2017.
He will be accompanied by Ghana’s Executive Director at the Bank and Senior Advisors.
According to a statement issued by the Ministry of Finance in Accra, yesterday, the visit will afford the AfDB President the opportunity to discuss the Ghana government’s development agenda and priority programmes, and ascertain the impact of the African Development Bank Group’s interventions in the country.
The statement said while in the country, Dr Adesina would meet with Nana Addo Dankwa Akufo-Addo, the President of the Republic of Ghana, Finance Minister, Ken Ofori-Atta, Development Partners and key sector Ministers to discuss priorities and challenges in their various sectors.
The visit, the statement added, would also offer the AfDB President the chance to network with leaders in the financial and banking industry and tour some AfDB-funded projects such as the Airport Terminal 3 project and the Cocoa Processing Company’s facility in Tema.
The African Development Bank Group was established in 1964 to promote sustainable economic growth to reduce poverty in Africa.
The Bank Group comprises the African Development Bank (ADB) which is the commercial window, and two concessional lending arms – the African Development Fund (ADF) established in 1972 and the Nigeria Trust Fund (NTF), set up in 1976.
Fifty-four African countries, including Ghana and 27 non-African countries are shareholders.
The AfDB’s ongoing portfolio in Ghana currently consists of ten (10) projects with a total commitment of US$410.95m and cumulative disbursement of US$135.12m. In addition, the Bank has a number of commercial projects under its private sector window.
On the other hand, Dr Adesina is a distinguished development economist and agricultural development expert with 25 years of international experience.
Prior to his appointment as President of AfDB, he was Nigeria’s Minister of Agriculture, a position he held from 2011.
Since becoming the AfDB President in September 2015, Dr Adesina has led the Bank to refocus its efforts in five key priority areas which have been identified as crucial for accelerating Africa’s economic transformation.
The Five Priority Areas initiative, termed the ‘High 5s’are: Light up and power Africa (energy); Feed Africa (agriculture); Industrialize Africa (industry); Integrate Africa (trade) and Improve the quality of life for the people of Africa (inclusive economic growth).
“To prosper, Africa needs a massive, concerted, ambitious effort to transform our economies. We need growth that benefits everyone. The High 5 priorities will get us there more quickly,” Dr Adesina is quoted as saying.
Source: ISD (G. D. Zaney)