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African Development Bank Celebrates 60th Anniversary with Calls for Continued Support

The African Development Bank marked a significant milestone on Tuesday, celebrating its 60th anniversary with a grand ceremony in Abidjan, Côte d’Ivoire. The event was attended by President Alassane Ouattara, who praised the Bank’s achievements and called for continued support to address the continent’s pressing challenges.

"This is an historic milestone and a cause for celebration, but it is also an opportunity to see that the African Development Bank has financed some pivotal infrastructure and helped improve the living conditions of millions of Africans," President Ouattara said. "The Bank is a source of pride and hope for Africa."

The Bank’s head, Dr. Akinwumi Adesina, described the celebrations as a "day of joy" and praised President Ouattara for his strong support. Adesina highlighted the Bank’s achievements since its inception in 1964, including supporting over 6,575 projects across the continent and investing $77 billion in the past decade.

The Bank’s total capital has risen to $318 billion, making it the largest multilateral financier of infrastructure in Africa. Adesina emphasized that the Bank’s work has impacted the lives of over 400 million people across Africa, with 52 percent of Africans now having access to electricity compared to 25% in 2016.

The Bank has also made significant strides in supporting Africa’s agricultural potential, mobilizing $72 billion to help unlock the continent’s agricultural potential. Additionally, the Bank has worked to support Africa’s efforts to cope with climate change, mobilizing $25 billion through its Africa Adaptation Acceleration Programme and $14 billion through its Climate Action window.

Adesina concluded the celebrations with a rallying call, urging the Bank to continue working towards a brighter future for Africa. "This celebration is a call to action to build the Africa we want to see. May the African Development Bank keep scoring development goals for Africa," he said.

The African Development Bank’s 60th anniversary is a testament to its enduring commitment to the development of the African continent. As the Bank looks to the future, it is clear that its work will be crucial in addressing the continent’s pressing challenges and building a brighter future for its people.