Dr. Akinwumi Adesina, the president of the African Development Bank Group (AfDB), expressed his deep appreciation for the efforts of President Joe Biden’s administration in supporting Africa’s development, particularly its commitment to building infrastructure, which Adesina referred to as the “backbone of every economy.” He applauded President Biden for his vision, notably the Partnership for Global Infrastructure and Investment (PGII) initiative, which was announced at the US-Africa Summit in 2022.
In a meeting at the AfDB’s headquarters in Abidjan, Côte d’Ivoire, Dr. Adesina hosted a delegation from the US Trade and Development Agency (USTDA), led by Director Enoh Ebong. He praised the PGII initiative for its focus on significant investments, including over $1.5 billion in projects across various sectors in Africa. These projects span critical areas such as digital access, agriculture, clean energy infrastructure, and the Lobito transportation corridor, which aims to connect Zambia, Angola, and the Democratic Republic of Congo.
Dr. Adesina highlighted the strong partnership between the African Development Bank and several US agencies, including USTDA, USAID, US Exim Bank, the Millennium Challenge Corporation (MCC), and Power Africa. Director Ebong echoed this sentiment, emphasizing the importance of strengthening the relationship between the US and Africa, particularly in addressing global challenges such as climate change, infrastructure development, and conflict resolution.
Ebong also underscored the critical role Africa must play in global discussions on climate change, acknowledging the importance of collaborating with the AfDB to shape effective strategies for the continent. She pointed to USTDA’s partnership with the African Investment Forum (AIF), which has been instrumental in accelerating investment transactions. One notable example is the financing of Nigeria’s MobiHealth telemedicine project, which aims to expand access to healthcare across the continent.
Climate change, Ebong noted, cannot be adequately addressed without taking into account Africa’s perspectives. The Biden administration’s recognition of this was reflected in its engagement with the AfDB to inform its climate and development policies across Africa.
Dr. Adesina outlined several areas where the AfDB and the US could collaborate further, especially in healthcare. He highlighted initiatives to enhance access to primary healthcare services, digitize health systems, and introduce health insurance for rural communities. Additionally, the AfDB is committed to ensuring health security post-Covid-19, with a $3 billion initiative focused on upgrading healthcare infrastructure and another $3 billion program to support Africa’s pharmaceutical industry over the next seven years.
To advance healthcare, the AfDB launched the African Pharmaceutical Technology Foundation in 2022, aimed at increasing the continent’s capacity for pharmaceutical manufacturing, including vaccines and essential medicines. Dr. Adesina emphasized the importance of these initiatives in improving health outcomes and spurring economic growth across Africa.
The discussion also touched on key infrastructure projects, such as the $15.6 billion transportation corridor connecting Abidjan to Lagos. Dr. Adesina proposed that this project receive a dedicated session at the upcoming Africa Investment Forum Market Days to attract greater attention and investment, particularly from the US.
Further, he spoke about the significant efforts of the Alliance for Green Infrastructure in Africa (AGIA), which is mobilizing $10 billion for green infrastructure, and Africa50, which is aiming to raise $1 billion for project preparation.
Empowering women in business was another focal point. Dr. Adesina highlighted the impact of the Affirmative Finance Action for Women in Africa (AFAWA), a major AfDB initiative designed to address the $42 billion financing gap for women-owned businesses. As of 2023, over $1.2 billion had been approved for disbursement to women entrepreneurs. The AfDB also supports the establishment of Youth Entrepreneurship Investment Banks, providing financial and technical assistance to young African entrepreneurs.
Lastly, the AfDB’s efforts to transform rural economies through the establishment of Special Agro-Industrial Processing Zones (SAPZs) were discussed. These zones aim to boost agricultural production and create jobs, with the AfDB currently supporting the development of 25 such zones across 11 countries.
The meeting included key figures such as Solomon Quaynor, Vice President for Private Sector, Infrastructure, and Industrialization at the AfDB, along with members from the Bank Group’s senior management team, including Alex Mubiru (Director General and Chief of Staff), Gauthier Bourlard (Senior Advisor), and Josiah Maximilian Bankole Jarrett (Director of Strategy and Delivery). The US delegation, led by Director Enoh Ebong, included other senior officials such as Heather Lanigan (Chief of Staff), Sarah Whitten (Regional Manager for Finance and Implementation), Alex Severens (US Executive Director), Anush Avetisyan (Advisor), and the Trade Officer from the US Embassy in Abidjan.
