Transcript - Your Excellency Dr. Willian Samoei Ruto, President of the Republic of Kenya,
Opening Speech by Dr. Akinwumi A. Adesina President and Chairman, Boards of Directors The Africa n Development Bank Group - Annual Meetings, Africa n Development Bank Group - Nairobi, Kenya 29 May 2024Your Excellency Mr. Denis Sassou Nguesso, President of the Republic of Congo,Your Excellency Mr. Emmerson Dambudzo Mnangagwa, President of the Republic of Zimbabwe,
Prof. Njuguna Ndung’u, Cabinet Secretary of the National Treasury of Kenya, and the Chairman of the Boards of Governors of the African Development Bank Group, The devastating effects of climate change are everywhere, from droughts to floods, from cyclones to unpredictable weather patterns, with a loss of lives and property, and enormous fiscal costs to countries.
Last year, our work had significant impacts across the continent with 11 million farmers provided with access to improved agricultural technologies; 8 million people provided with access to new sanitation facilities; 3.5 million people provided access to improved transport; 2.8 million people provided with better health services; 1 million people provided with access to clean water; and over 443,000 enterprises provided with access to finance.
We have worked with partners of the Africa Investment Forum to mobilize $15.6 billion of investment commitment towards the development of the Lagos-Abidjan corridor. The call for reforms of the global financial architecture is necessary to mobilize even more financial resources to achieve Africa’s sustainable development goals. The G20 capital adequacy framework called for the multilateral development banks to optimize their balance sheets to raise more financing to support countries.
To support youth entrepreneurship in Africa, and to create youth-based wealth, the Bank has established Youth Entrepreneurship Investment Banks in partnership with the French Development Agency and other partners, with support from the Bank’s multi-donor Youth Entrepreneurship Trust Fund.
At the Spring Meetings of the World Bank Group, President Ajay Banga and I launched a joint effort to connect 300 million people in Africa to electricity by 2030. We will jointly host an Africa Energy Summit later this year. This marks a first for both of our institutions. Not only are we reforming, but we are also changing how we work together, as a system, to deliver greater impacts at scale.For generations, women in Africa have borne the brunt of risks and hardships associated with cooking.
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