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Better Allocating International Financial Resources to Speed Africa's Transformation

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Announcement - Back in February 2013 in Tunis, in response to a journalist who had asked her how the African Development Bank Group differed from other institutions, Ellen Johnson-Sirleaf, then President of Liberia, replied, 'simply the confidence it inspires.

, then President of Liberia, replied,"simply the confidence it inspires. I can say without any hesitation that the Bank has played a decisive role in my country in the aftermath of the conflict. It gave us the confidence to believe that we could move on."

Prudence, respect for principles, and the pursuit of tangible results are the major new guidelines of Africa's leading development finance institution, which has supported more than 5000 projects in its 60 years. Today, integration projects remain its trademark. One such project dates to 2012, when the Bank facilitated talks between Zambia, Botswana and Zimbabwe, leading to the construction of the Kazungula Bridge over the Zambezi River.

Dr Adesina explained that of the $650 billion in special drawing rights issued by the International Monetary Fund, Africa received just $33 billion, or 4.5% of the total. While the total amount of budgetary measures taken to combat the Covid-19 pandemic reached $17 trillion, Africa received just $89 billion, or 0.5% of the global amount.

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