African Development Bank, The European Stability Mechanism (ESM) sign Memorandum of Understanding to enhance cooperation

The African Development Bank Group (www.AfDB.org) and The European Stability Mechanism (ESM) have signed a Memorandum of Understanding (MoU) to formalise and strengthen cooperation between the two institutions. The signing took place on Wednesday 15 April, on the margins of the 2026 Spring Meetings of the International Monetary Fund and the World Bank Group in Washington DC. 

Cooperation under the agreement will focus on capacity building, knowledge sharing and research, as well as cooperation through technical dialogue, information exchange, joint seminars, and staff‑level interactions, subject to the internal rules and procedures of both institutions.

“In a world that has become more prone to frequent shocks, preparedness through cooperation is essential,” said ESM Managing Director Pierre Gramegna. “This MoU provides a structured framework for deepening our dialogue with the AfDB and sharing experience in areas such as market funding, governance, and crisis prevention and management.”

“This agreement reflects our commitment to mutually beneficial exchanges,” African Development Bank Group President Sidi Ould Tah, said. “By formalising our cooperation with the ESM, we are strengthening our ability to draw on international best practices, including in the context of efforts to establish the African Financial Stability Mechanism, a priority endorsed by African Union Heads of State and Government. Africa remains the only region without a dedicated regional financial stability mechanism, and this cooperation will be instrumental in helping safeguard financial stability in the region.”

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

Contact:
African Development Bank:
Amba Mpoke-Bigg
Communication and External Relations Department,
email: media@afdb.org

European Stability Mechanism (ESM):
Anabela Reis
Deputy Head of Communications
email: A.Reis@esm.europa.eu

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