Two multilateral development banks are exploring opportunities for joint collaboration in Africa, a continent which, despite of its economic growth, still turns off many investors.
Officials from the African Development Bank and the World Bank gathered in Tunis on Monday, Jan. 21, for three days of discussions on a variety of issues, including regional integration and continental trade, human development and capacity building, as well as energy, transport and agriculture.
Officials are also expected to exchange best practices on innovative project delivery and procurement and on ways to improve infrastructure, strengthen partnerships and better disseminate information.
“Africa is changing very rapidly challenging all conventional norms including the way we do business as multilateral development banks,” Gilbert Mbesherubusa said. He is AfDB’s vice-president for infrastructure, private sector and regional integration.
The AfDB has become an increasingly influential driver of Africa’s growth in recent years. In August, AfDB President Donald Kaberuka announced the creation of a $22 billion infrastructure bond for the continent. He also identified five key steps to building Africa’s resilience in a speech in December.
Jenny Lei Ravelo is a Devex senior reporter based in Manila. Since 2011, she has covered a wide range of development and humanitarian aid issues, from leadership and policy changes at DfID to the logistical and security impediments faced by international and local aid responders in disaster-prone and conflict-affected countries in Africa and Asia. Her interests include global health and the analysis of aid challenges and trends in sub-Saharan Africa.
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