African Development Bank affirms standing as champion of Africa’s prosperity – #UNGA79

NEW YORK, USA – As the world convenes in New York this week for the United Nations General Assembly (UNGA 79), Africa’s 1.2 billion people will be counting on their participating leaders and pan-African institutions like the African Development Bank Group to lead the charge on matters critical to the continent’s sustainable development and prosperity.

Issues of climate change, the reform of the global financial architecture, peace, food and health security, access to clean energy and connectivity, among others, are captured in the bank’s High 5s, are advanced in the new Ten-Year Strategy and are aligned with the African Union’s Agenda 2063, ‘the Africa we want’.

The High-Level Segment of the 79th Session of UNGA, bringing together member states, international organizations, intergovernmental bodies, and other key stakeholders, will be held from 22-30 September 2024 under the theme “Leaving no one behind: Acting together for the advancement of peace, sustainable development and human dignity for present and future generations.”

The 2024 meetings take place against a backdrop of growing concern about the ability to meet critical targets outlined in the Sustainable Development Goals (SDGs) agenda.

The SDGS outline seventeen “goals” collectively described as “a shared blueprint for peace and prosperity for people and the planet, now and into the future” and with a deadline of 2030. They were first unveiled at UNGA 70 in 2015 which saw Dr Akinwunmi A. Adesina’s debut appearance as the African Development Bank Group President.

Over the last decade, the African Development Bank has ramped up efforts and investments aimed to accelerate the attainment of the SDGs, in synergy with its own High-5s agenda of Light Up and Power Africa; Feed Africa, Industrialize Africa, Integrate Africa, and Improve the Quality of Life for the People of Africa. By focusing on these High 5s, the African Development Bank has said, Africa stands the chance of accomplishing 90 percent of its Sustainable Development Goals for Africa.

Accompanied to New York by a high-level delegation of Bank Group executives, Adesina will helm a major push to strengthen partnerships and generate more support and commitment from key stakeholders for the continent’s development priorities.

Adesina’s packed UNGA itinerary will kick off on Sunday, 22 September, at this year’s  ‘The Summit of the Future’(link is external), scheduled for 22-23 September 2024. At the summit, Adesina will join world leaders to deliver a statement and adopt an action-oriented document to be known as “A Pact for the Future.”

He will also take part in a closed-door meeting with UN Secretary-General António Guterres to discuss the critical issues of mobilizing greater private sector participation in Africa’s development, and the reform of multilateral development banks (MDBs).

Adesina will also speak at an event entitled: “The World is at a Crossroads”, which will result in a new global blueprint designed to ensure humankind embraces rapid advances in technology and science to deliver on the promise of a better, more peaceful and prosperous future for people and the planet.

A major issue for the bank is presenting the case for additional funds for the African Development Fund (ADF), the Bank’s concessional lending arm, which since 2001 has been at the forefront of the bank’s drive to advance the fragility agenda in Africa. The bank, one of the first multilateral institutions to embed the concept of fragility and resilience into all its operations, is seeking to secure an ambitious replenishment of $25 billion for the ADF.

A fireside chat, hosted by the broadcaster CNN, will present a platform for Adesina to highlight the bank’s ground-breaking Desert to Power programme across the continent’s Sahel region, which aims to create the largest solar energy zone in the world and connect 250 million people to electricity by 2030.

The bank president will also address a steering committee meeting of the Access to the Digital Economy (MADE Alliance-Africa)(link is external) – an organization of which he is a co-chair which aims to provide digital access to 100 million people in Africa. Dr Adesina will stress how he believes the work of MADE is critical to address the ambitious and promising goal of reaching 100 million African farmers in ten years.

He will be joined by the bank’s vice-presidents for regional development, integration, and business delivery, finance, agriculture, human, and social development, private sector, infrastructure & industrialization and power, energy, climate and green growth and the chief economist.