Impending AfDB Annual Meeting

Accra, 22 April 2022 (TDI): The African Development Bank Group (AfDB) held a press conference for the coming annual meetings on 20 April. The annual meetings for this year will start on May 23, and last for 5 days, until May 27.

Accra, Ghana, will witness this most important annual event for the AfDB group. Moreover, the theme for the 2022 AfDB annual meetings is “Achieving Climate Resilience and a Just Energy Transition for Africa”.

AfDB 2022 ANNUAL MEETINGS

The Annual Meetings are the most significant event for AfDB. Every year, more than 3000 participants from various institutions attend the meetings.

Scholars, politicians, investors, and other stakeholders take the meeting as an opportunity to discuss key topics and exchange ideas. The event directly focuses on Africa’s ongoing development.

Last year, the AfDB group signed a Memorandum of Understanding (MoU) with the Ghana government on November 9^th, for holding the impending annual event.

Ghanaian Finance Minister, Kenneth Ofori-Atta, the current chair of AfDB’s Boards of Governors, signed the agreement with the Secretary-General, Vincent Nmehielle.

During the meeting, both sides acknowledged the AfDB’s achievements in the past and its importance to Africa’s development. Furthermore, the host country, Ghana,  and the AfDB group both said they look forward to a successful annual meeting.

THEME FOR THE 2022 ANNUAL MEETINGS HAS GREAT SIGNIFICANCE

Specifically speaking, “climate resilience” and “just energy transition” are two keywords for the 2022 AfDB annual meetings. The theme is not only a hot topic for the African continent but also a global concern.

According to the data from the United Nations, the cost associated with climate-change adaptation across Africa could hit $50 billion annually by 2050.

Africa accounts for just 3.8 percent of global greenhouse gas emissions, but it risks bearing the brunt of the worst effects of climate change.

The special adviser of the UN Secretary-General for the Sahel, Ibrahim Thiaw, once said that the Sahel region is particularly vulnerable to climate change, with 300 million people affected.

Therefore, to cope with the capacity building of climate resilience, AfDB has made plans and widely worked with various stakeholders. AfDB prioritizes mainstreaming climate change and green growth in the portfolio.

Besides, AfDB is committed to incorporating climate-informed design into 100% of its investments. However, climate resilience is not a simple question, there are amounts of components linked with it.

Just energy transition is one of those factors. According to the current development stage in Africa, governments of African countries have more concerns about the energy transition.

Just as the Executive Director of the African Energy Commission, Rashid Ali Abdallah said, the concept of energy transition should be adapted to the African context to ensure fairness to all countries.

Also, low-carbon development in Africa should be affordable for every family across the continent. This is where AfDB is working with its diversified partnerships and professional groups.