By Maxwell Awumah
Ho, Nov 22, GNA – The Government of Côte d’Ivoire and the African Development Bank (AfDB) have signed a memorandum of understanding (MOU) to host the Bank Group’s 2025 Annual Meetings in Abidjan, the institution’s headquarters.
The meetings are held annually among member countries. During the last meetings held in Nairobi, Kenya, in May 2024, the Board of Governors endorsed Côte d’Ivoire’s proposal to host the meetings in 2025.
It will comprise both the 60th Annual Meeting of the AfDB and the 50th Meeting of the African Development Fund—the Group’s concessional window for low-income countries— which will be held from May 26 to 30, 2025.
The MoU establishes the legal and organizational framework for the upcoming Annual Meetings and marks a significant milestone in its preparations.
It was signed by Nialé Kaba, Minister of Economy, Planning and Development and Governor of the Bank for Côte d’Ivoire, and Professor Vincent O. Nmehielle, Secretary General of the African Development Bank Group.
“The success of the 2025 Annual Meetings requires the mobilization of all political, economic, social, and institutional actors. To this end, we are committed, through this protocol, to providing an exemplary organizational framework that reflects not only the legendary hospitality of our country, but also the promotion of the values of cooperation and African unity,” said Kaba.
Kaba said, “these meetings are not only an opportunity to take stock of Africa’s economic achievements and challenges, but they also constitute a strategic platform to outline the development of our continent in an international context marked by geopolitical tensions and socio-economic changes.”
“I am particularly pleased to note that following the first preparatory mission which took place from 17 to 20 September 2024, our teams have succeeded in producing a high-quality memorandum of understanding within the allotted time. I would like to take this opportunity to congratulate the various working groups for this achievement and encourage them to maintain this momentum,” stressed Prof Nmehielle.
On behalf of the Bank Group’s President, Dr. Akinwumi Adesina, Nmehielle commended and thanked the Ivorian authorities for their constant support to the Bank.
The Annual Meetings are the most important statutory event of the African Development Bank Group. They enable the boards of governors, representing the Bank Group’s 81 member countries and management to review the institution’s operations for the past year and adopt key resolutions aimed at advancing development programmes in Africa.
The 2025 meetings will take place in a special context, as it will be marked by the election of a new President to replace Dr Adesina, who is completing his second and final term as Bank Group President.
The Board of Governors of the Bank will have the weighty task of electing the next president of the Bank Group for a five-year term, renewable once on 29 May 2025.
The Annual Meetings attract over 3,000 delegates each year, including the institution’s governors and executive directors, development partners’ representatives, philanthropists, academic and research institutions, private sector leaders, civil society stakeholders, the media, as well as members of the Bank management and staff.
Côte d’Ivoire is a major member country of the African Development Bank Group. Since 2015, the Bank Group’s support to the country has increased more than fivefold, rising from USD 460 million in 2015 to USD 3.1 billion in 2023. Its investments cover various sectors: transport, energy, agriculture, health, education, water and sanitation, governance, information and communication technologies, industrialization, climate, skills development, among others.
GNA