AfDB, World Bank explore deeper collaboration

Executive Directors of the African Development Bank Group and the World Bank recently met in Abidjan to discuss a wide range of issues, including the effectiveness of their work and ways to strengthen the collaboration between the two institutions.

The Dean of the Executive Directors of the African Development Bank Group, Mmakgoshi Lekhethe, and eight other executive directors received their counterparts from the World Bank led by the Executive Director for Benin, Alphonse Kouagou. The seven-member World Bank delegation was on a field mission to Côte d’Ivoire and Niger.

The two groups exchanged views on broad strategic priorities and areas of common interest. This included the effectiveness of the board, the strategic partnership between the two institutions and, in particular, between development partners, in the context of the Covid-19 pandemic.

They also discussed the dual role that CEOs play in ensuring due diligence while advocating for more concessional resources for Africa within the multilateral financial system through the African Development Fund and the International Development Association, the lending arms soft loans from the African Development Bank Group and World. Bank, respectively.

They agreed that it was important to strike a balance between the financial sustainability of the multilateral development banks and their role in contributing to the socio-economic development of their client countries. They also engaged in broad issues such as food security, human capital, climate finance, energy including a just transition, and fragility.