The 2019 Annual Meetings of the African Development Bank Group will be held from 11-14 June 2019, in Malabo, Republic of Equatorial Guinea. Find out more
African Development Bank (AfDB): President Donald Kaberuka arrives in Tanzania at the weekend for the visit by US President Barack Obama, whose focus will include an initiative to foster economic growth and development in Africa through increased access to reliable, affordable, and sustainable power.
The initiative is a multi-stakeholder partnership that brings together the United States, the African Development Bank and six African countries. It is designed to increase access to electricity, raise cross-border trade in energy, and promote efficient management of energy resources. The US president’s July 1-2 visit to Tanzania is the last stop on his three-nation Africa tour.
The AfDB has over the last five years committed more than $1.63 billion in energy infrastructure funding to the six countries involved in the initiative. This includes $1.4 billion from the African Development Fund (ADF), the Bank’s concessionary lending window for low income countries. The US is a significant contributor to the ADF.
The Bank is at the forefront of a campaign by African governments and institutions to grow the continent’s economies by scaling-up of infrastructure development.
“This continent pays dearly for deficiencies in infrastructure, including those in the energy sector. Drawing on resources from the public and the private sector, at home and abroad, it can derive immense dividends from infrastructure development,” Dr. Kaberuka said ahead of the visit.
“Last month, the African Development Bank unveiled plans for the new ‘Africa50Fund’, a big and bold solution designed to help fill the funding gaps in Africa’s transport, power, water and communications systems. The Bank is committed to partnering with its regional member countries to ensure they stay on the path of sustained growth,” he added.
Dr. Kaberuka will during the visit discuss the AfDB’s support for improved governance in the extractives sector through its African Legal Support Facility. The facility helps regional member countries to negotiate fair extractive resource contracts with investors.
In Tunis, please contact Magatte Wade, Head of External Relations and Communications.
Tel: +216 983 43734
In East Africa, please contact Mercy Randa, Regional Communications Consultant.
Tel: +254 735 229 542