Apex bank restates commitment to development in Africa

Several reports reveal the African Development Bank (AfDB) has restated its commitment to continue to support efforts to address the continents infrastructural needs.

According to Moono Mupotola, the AfDB director for NEPAD, regional integration and trade, the implementation of the PIDA Priority Action Plan (PAP) projects, will have a direct influence on the five new focus areas it is tasked with.

Under the new AfDB president, Akinwunmi Adesina, those priorities are to light up and power Africa, feed Africa, industrialize Africa, integrate Africa, and generally improve the quality of life for the African people.

“Energy plays a big part in industrialization and job creation,” Mupotola said according to a report by Nigeria CommunicationsWeek.

READ: AfDB president canvasses for new energy approach for Africa

As for bridging the financial gap, Ibrahim Mayaki, NEPAD’s CEO, made a call out to the private sector to participate, while emphasizing on the need to increase domestic resources in the face of decreasing donor assistance.

Rhoda Peace Tumusiime, the African Union commissioner for rural economy and agriculture reckons that job creation, particularly for the youth, cold be achieved via the development of agriculture, which directly ties into the development of rural infrastructure.

"I see a lot of connectedness between infrastructure, agriculture, rural development and trade. Infrastructure has increased intra-African trade from 11 to 16 percent in the past few years.” Tumusiime stated.

In the last decade, the AfDB has invested over $30 billion directly in infrastructure, a move which constitutes over 50 percent of the bank’s lending activities.