Dr. Akinwumi A. Adesina, the President of the African Development Bank Group, bid farewell to Heads of State and Government at the 38th African Union Summit, in Addis Ababa.
Here is a summary of the Bank’s achievements during his time in office:
*Four Bank-led initiatives including the drive to connect 300 million Africans to electricity by 2030, measuring Africa’s green wealth as part of its GDP, a $20 billion facility to provide Africa with a financial buffer and a roadmap for the continent to achieve inclusive growth and rapid sustainable development.
*The Bank has transformed 515 million lives, including 231 million women, over the past decade. About 127 million people gained access to better services in terms of health, 61 million people gained access to clean water, 33 million people benefited from improved sanitation, 46 million gained access to ICT services, and 25 million people gained access to electricity.
*He cited the landmark Africa Energy Summit held in Tanzania in January, where 48 nations signed the Dar Es Salaam Declaration to adopt bold policies in support of an initiative by the World Bank and the African Development Bank to extend electricity access to 300 million Africans by 2030. That meeting, attended by 21 heads of state, secured $48 billion in commitments from the two institutions and an additional $7 billion from other development partners.
*The Addis Ababa Summit endorsed the Dar Es Salaam Energy Declaration, the Baku Declaration by African Heads of State on Measuring the Green Wealth of Africa. The Assembly also adopted the African Financing Stability Mechanism, a groundbreaking initiative by the African Development Bank to provide $20 billion in debt refinancing for African nations alongside the Strategic Framework on Key Actions to Achieve Inclusive Growth and Sustainable Development in Africa report which outlines key actions required to enable Africa to achieve, and sustain an annual growth rate of at least 7% of GDP over the next five decades.
*Reflecting on his tenure at the helm of the African Development Bank, Dr. Adesina said the Bank has transformed 515 million lives, including 231 million women, over the past decade: 127 million people gained access to better services in terms of health, 61 million people gained access to clean water, 33 million people benefited from improved sanitation, 46 million people gained access to ICT services, and 25 million people gained access to electricity.
*About $48 billion secured to provide electricity to 300 million people, by 2030.
*The Addis Ababa Summit endorsed the Dar Es Salaam Energy Declaration, the Baku Declaration by African Heads of State on Measuring the Green Wealth of Africa. The Assembly also adopted the African Financing Stability Mechanism, a groundbreaking initiative by the African Development Bank to provide $20 billion in debt refinancing for African nations.