African Development Bank President pledges deeper cooperation with key constituency

 

African Development Bank Group (www.AfDB.org) President Sidi Ould Tah met with the finance ministers of The Gambia, Ghana, Liberia, Sierra Leone and Sudan this week, reaffirming the Bank’s partnership with the constituency and pledging to deepen cooperation on economic transformation and resilience.

The talks, held on the sidelines of the 2025 World Bank and International Monetary Fund Annual Meetings in Washington, DC, USA, centred on economic challenges, debt vulnerabilities and the region’s development priorities, as well as the African Development Fund’s upcoming 17th replenishment (ADF-17).

The ministers, who are also Governors on the Bank’s Board, congratulated Dr Ould Tah on his recent election as Bank president and praised his previous record of leadership, including achievements as head of the Arab Bank for Economic Development in Africa (BADEA).

Ghana’s minister Cassiel Ato Forson lauded Dr Ould Tah as “the right leader to take the African Development Bank Group to the next level” and endorsed Bank Group efforts to link agricultural transformation with Africa’s new financial architecture and green industrialisation agenda.

The five countries also reaffirmed their commitment to the African Development Fund (ADF) and pledged early support for the ADF-17 replenishment, which will take place in London in mid-December.

In a strong signal of confidence in the Bank’s governance and strategic direction the Ghanaian minister said that his country will  accelerate its subscription payment and co-host an ADF-17 pledging session with the United Kingdom. Gambia’s minister Seedy Keita announced his country’s intention to contribute to ADF-17, while Liberia’s minister Augustine Ngafuan and Sierra Leone’s Sheku Bangura committed to allocate funds for the replenishment in their respective domestic budgets.

The five governors also expressed strong support for the Bank’s strategic priorities in industrialisation, energy access, and private-sector growth. Sierra Leone stressed the transformative potential of Mission 300 – a joint initiative with the World Bank to extend energy access to an additional 300 million Africans by 2030 – to accelerate regional value chains and job creation.

Sudanese Minister Gibril Ibrahim expressed appreciation for the Bank’s continued support during this transitional period and requested enhanced assistance for post-conflict recovery in energy, agriculture, and education.

Addressing Debt Sustainability and Building Resilience

Additionally, the ministers voiced concern over rising debt vulnerabilities across Africa, urging the Bank to step up its support for debt restructuring, sustainability and domestic resource initiatives. They also underscored the vital need to tackle cross-cutting priorities under ADF-17 — including fragility, resilience, and youth employment.

President Ould Tah reaffirmed that addressing these challenges is central to his vision for a New African Financial Architecture—one that enhances Africa’s voice in global finance and channels more concessional and blended financing to countries in or emerging from crisis.

He thanked the ministers for their confidence in him and reiterated that the Bank would continue to work closely with each country to advance shared priorities, noting that their commitments to ADF-17 underscored growing confidence in the Bank’s vision and governance.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

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media@afdb.org

About the African Development Bank Group:
The African Development Bank Group is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org