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Annual Meetings of African Development Bank: Between Resilience and Emergency

The 2021 Annual Meetings of the African Development Bank Group will take place from June 23 to 25, 2021 in a virtual format on the theme: “Building Resilient Economies in Post Covid-19 Africa”. This meeting will be held in a context of not only health emergency, but also economic and social one.

By DBM 

The African Development Bank Group will hold its 2021 Annual Meetings virtually from June 23 to 25, 2021. The meetings will comprise the statutory meetings of the Bank Group’s Boards of Governors, a high-level dialogue and knowledge events. At these meetings, the Bank Group’s shareholders will assess progress in achieving the institution’s strategic objectives and make statutory decisions.

The Meetings will provide a platform for the Bank’s governors to share their experience in addressing the COVID-19 and the policy measures they are employing to rebuild economies and livelihoods.

These include the 56th Annual Meeting of the Board of Governors of the African Development Bank and the 47th Annual Meeting of the African Development Fund, the concessional financing window of the Bank Group. The governors of the African Development Bank are from the institution’s 54 African regional and 27 non-regional member countries. “In a year of unprecedented fiscal and social disruption arising from the COVID-19 pandemic, I am delighted that we can convene and assure Governors of the Bank Group’s continued commitment to Africa’s sustainable economic development and social progress,” said Prof. Vincent O. Nmehielle, African Development Bank Group Secretary General.

Worst economic recession in 50 years 

This year’s gathering will comprise statutory meetings of the Bank Group’s Boards of Governors, a high-level dialogue, and knowledge events. Ghana’s Minister of Finance and Chairperson of the Boards of Governors Ken Ofori-Atta will preside over the meetings.  A key feature of the Meetings will the Governors’ Dialogue with the Management of the Bank Group led by its President, Dr. Akinwumi A. Adesina.

These annual meetings are taking place as Africa attempts to recover from its worst recession in decades. According to the African Development Bank, Africa is expected to see a 3.4% GDP growth in 2021, after a contraction of 2.1% in 2020, the worst economic recession in 50 years. Concerns about the grassroots impact of the pandemic on the continent will be high on the agenda. It is estimated that 24.6 million to 30 million Africans could lose their jobs, increasing the total number of people living in extreme poverty to 463 million, according to the AfDB.

3000 participants expected

The African Development Bank Group’s Annual Meetings present a unique opportunity not only to discuss the economies and livelihoods of African countries, but also to share solutions for addressing the COVID-19 vaccine shortage, climate change, debt and much more.

Some 3,000 participants are expected to attend the meetings online. This includes finance ministers, central bank governors, policy makers, representatives of civil society groups, heads of international organizations, business leaders from the Bank Group’s member states and journalists.

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