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31 July 2017

African Development Bank President to Pay Official Visit to Ghana

The President of the African Development Bank (AfDB) Group, Dr. Akinwumi Adesina is scheduled to pay a working visit to Ghana, from 1st to 3rd August, 2017. He will be accompanied by Ghana’s Executive Director at the Bank and Senior Advisors.
 
2.         The visit will afford the AfDB President the opportunity to discuss the government development agenda and priority programmes, and ascertain the impact of the African Development Bank Group’s interventions in the country.
 
3.         While in the country, Dr. Adesina will meet with Nana Addo Dankwa Akufo-Addo, the President of the Republic of Ghana, Finance Minister, Development Partners as well as key sector Ministers to discuss priorities and challenges in their various sectors.
 
4.         The visit will also offer the AfDB President the chance to network with leaders in the financial and banking industry. Dr. Adesina will tour some AfDB funded projects such as the Airport Terminal 3 project. He would also tour the Cocoa Processing Company’s facility in Tema.
 
5.         The AfDB’s ongoing portfolio in Ghana currently consists of ten (10) projects with a total commitment of US$410.95m and cummulative disbursement of US$135.12m. In addition, the Bank has a number of commercial projects under its private sector window.
6.         Dr. Adesina, is a distinguished development economist and agricultural development expert with 25 years of international experience. Prior to his appointment, he was Nigeria’s Minister of Agriculture, a position he held from 2011.
7.         Since becoming the AfDB President in September 2015, he has led the Bank to refocus its efforts in five key priority areas which have been identified as crucial for accelerating Africa’s economic transformation. The five priority areas initiative, termed the ‘High 5s’are:
·         Light up and power Africa (energy)
·         Feed Africa (agriculture)
·         Industrialize Africa (industry)
·         Integrate Africa (trade)
·         Improve the quality of life for the people of Africa (inclusive economic growth).
 
8.         “To prosper, Africa needs a massive, concerted, ambitious effort to transform our economies. We need growth that benefits everyone. The High 5 priorities will get us there more quickly,” he said.
 
9.         The African Development Bank Group was established in 1964 to promote sustainable economic growth to reduce poverty in Africa. The Bank Group comprises the African Development Bank (ADB) which is the commercial window, and two concessional lending arms – the African Development Fund (ADF) established in 1972 and the Nigeria Trust Fund (NTF), set up in 1976. Fifty-four African countries, including Ghana and 27 non-African countries are shareholders. END
                                                         
Issued by the Public Relations Unit
Ministry of Finance

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