The African Development Bank (AfDB) Group is inviting comments on its Draft Human Capital Development Strategy to encourage its stakeholders to provide feedback and input.
It is an opportune time for the Bank to prepare an integrated Human Development Strategy. Investments in human capital represent an increasingly important approach and set of instruments for the Bank’s fight against poverty and social exclusion in Africa. A strategy for Human Capital Development is urgently required because education, nutrition, health and safety nets are inextricably linked with economic growth and poverty reduction. Furthermore, the Arab Spring and growing inequalities in Southern Africa have brought forward the urgent relevance of the inclusive growth agenda. In addition, preparations are starting for a new AfDB long-term corporate strategy (LTS), and as the premier African financial institution, the African Development Bank should play a pivotal role with its development partners to ensure that Africa has the human capital needed to accelerate economic and social development.
This draft will be the basis of the African Development Bank’s first Human Development Strategy, identifying critical areas for better investment in human capital as part of the inclusive growth agenda. It focuses on job-creating growth; giving voice to all citizens for improved quality of public services and efficiency of public spending; and support safety nets to protect against economic and social shocks.
The rationale of this Strategy is mainly to consolidate and streamline the approach to Human Development in Bank operations. This will ensure and facilitate: (a) A results- and evidence based focus of the Bank’s inclusive growth agenda; (b) selectivity consistent with Bank resources; (c) alignment to national policy frameworks, strong partnerships as well as regional ownership; and (d) harmonization of donor support and engagement of all stakeholders.
The AfDB Group values broad consultation and therefore encourages all stakeholders to provide inputs and comments on this consultative Draft Strategy.