On Tuesday, President Alassane Ouattara of Côte d'Ivoire presided over the festivities commemorating the 60th anniversary of the African Development Bank .
“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. The Bank is a source of pride and hope for Africa,” President Ouattara said.
He addressed the audience on the second and official day of the Bank's Diamond Jubilee celebrations, held in Abidjan, the economic capital of the country and the location of the institution's headquarters.
Nevertheless, President Ouattara emphasized that there remains more work to be accomplished.
“Our Bank is a steadfast support in times of crisis. Africa still has floods and wars and hunger is rife. Therefore the Bank must do even more and encourage states to invest more across climate, agriculture, wars and endeavour to pursue peace and democracy to bring these wars to an end,” he said.
The President of the African Development Bank Group, Dr. Akinwumi Adesina, characterized the Bank's 60th Anniversary festivities in Abidjan as a “day of joy”, as he praised host country President Ouattara as “a pillar of extraordinary support”.
Adesina acknowledged the significant milestones achieved by the Bank since its establishment in Abidjan in 1964. He highlighted the Bank's role in facilitating over 6,575 projects throughout the continent and noted that in the last decade alone, it has invested $77 billion in 3,000 projects, solidifying its position as Africa’s most reliable development partner.
Adesina expressed gratitude to President Ouattara for hosting the Bank’s headquarters in Abidjan and for his unwavering support. He recounted how, in 2019, President Ouattara played a crucial role in enabling the Bank to secure a general capital increase of $115 billion, marking the largest increase in the institution's history. As a result, the Bank’s total capital reached $318 billion earlier this May, reflecting strong backing from its shareholders.
“This provides the firepower to do more for Africa”, said Adesina: “We are today a bigger, bolder and better bank better positioned to meet Africa’s future needs and challenges, to fast-track Africa’s development.”
“Following my election as President in 2015, during my first term, I made a case for a stronger bank with financial resources to help implement and scale up our High 5s: To light up and power Africa; To feed Africa; To industrialize Africa; To integrate Africa; To improve the quality of life of the people of Africa,” Adesina said.
“In the past 9 years, we have provided over $55 billion in support of infrastructure, from energy to roads, corridors, seaports, airports, rail, digital infrastructure, water and sanitation. Today, the Bank is the largest multilateral financier of infrastructure in Africa.”
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| Cote d’Ivoire President Alassane Ouattara gives rousing remarks during the African Development Bank's 60th Anniversary Celebrations. Abidjan, 10 September 2024 |
The African Development Bank launches its Analytical Report during its 60th Anniversary celebrations. Abidjan, 10 September 2024 
Cote d'Ivoire President Alassane Ouattara (centre) is treated to walk down memory lane as he is shown the historical photo exhibit during the African Development Bank's 60th Anniversary celebrations by Dr. Akinwumi Adesina ( left) and Director Desire Vencatachellum (far right). Abidjan, 10 September 2024
Adesina noted that over the past eight years, the Bank's initiatives have positively influenced the lives of more than 400 million individuals throughout Africa. He highlighted that access to electricity has risen to 52 percent among Africans, up from 25 percent in 2016. Additionally, he mentioned the $20 billion desert-to-power initiative in the Sahel, which aims to provide 10,000 megawatts of electricity to 250 million people across 11 nations.
He also commended the Bank for mobilizing $72 billion to enhance Africa's agricultural capabilities during the Feed Africa Summit held in Dakar, Senegal. Furthermore, he emphasized the Bank's commitment to assisting Africa in addressing climate change, having mobilized $25 billion through its Africa Adaptation Acceleration Programme and $14 billion via its Climate Action window.
Adesina concluded with a rallying call: “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”.