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.

Source: Ethiopia News agency