You are here
The African Development Bank’s High 5 priorities are making a vital contribution to the continent's integration
The African Development Bank is delivering on its goals and making good progress towards achieving its development and operational targets. This is according to the 2019 Annual Development Effectiveness Review (ADER), released at the Bank’s Annual Meetings held from 11-14 June 2019, in Malabo, Equatorial Guinea.
Every year, the ADER examines the Bank’s operational effectiveness and its organisational efficiency, using the Bank’s results measurement framework. It brings together evidence of strengths and weaknesses to provide Management with a clear understanding of what has worked well and what the Bank must do better to achieve its High 5 development goals.
“The report shows that the African Development Bank has been, and will continue to be, a champion of regional integration to help Africa achieve its development priorities,” said Charles Boamah, Senior Vice-President. “The Bank continues to be a key financier of economic integration, trade and investment, engaging in policy dialogue with regional economic communities and African countries.”
This year’s ADER has a special focus on integrating Africa. The Bank has completed a number of transformative investments that are driving the integration agenda forward. “We believe deeply in the prospects of economic integration to promote inclusive growth and create more and better jobs for Africans,” said Bank’s President Akinwumi Adesina. “Apart and divided, Africa is weakened. Together and united, Africa will be unstoppable!”
One of the report’s key findings is that in 2018, 14 million people have benefited from improved access to transport in Africa through operations supported by the Bank. Our investment in the Trans-Gambia Bridge brought to life a 40-year ambition to improve connectivity between Gambia and Senegal, benefitting 900,000 people alone. The Addis-Mombasa Highway opened up opportunities for travel and trade, while also encouraging greater foreign investment.
This year, Africa achieved a major milestone on 30 May 2019, when the agreement establishing the African Continental Free Trade Area came into force. This agreement paves the way to unlocking Africa’s economic potential and ability to compete in global value chains. By delivering quality infrastructure, the Bank is promoting this progress: over 2018, it installed 447 MW of power capacity, expanded interconnector capacity in West and East Africa, and enabled 154 000 small and micro businesses to access finance.
“Enhancing delivery is in our DNA, and we must continue increasing our level of performance to achieve higher development impact,” said Simon Mizrahi, Bank Director for Delivery, Performance Management and Results.
The Bank’s efforts to help integrate the continent are supported by its presence in 41 countries and by its timely and high-quality operations. The learning captured in this report helps the Bank develop new approaches to further drive innovation, development impact, and accountability.