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ABIDJAN – African Development Bank President, Akinwumi Adesina, announced that the Bank’s initiatives have positively impacted an astounding 565 million people across Africa over the past decade. He delivered this powerful message at the opening of the 2025 Annual Meetings of the African Development Bank (AfDB) Group in Ivory Coast on Wednesday. This underscores the significant AfDB impact during his leadership.
Adesina proudly stated, “The AfDB High 5s of the Bank—to light up and power Africa, feed Africa, industrialize Africa, integrate Africa, and improve the quality of life of the people—have been transformational for Africa.”
AfDB High 5s: Real Results for Millions
President Akinwumi Adesina of AfDB then shared concrete results from the ambitious AfDB High 5s program, painting a picture of widespread progress:
- Electricity access reached 390 million people.
- Agricultural technologies benefited 240 million people, boosting farming.
- New or improved jobs were secured by 12 million people.
- Food security was achieved for 104 million people.
- Better health services became accessible to 128 million people.
These numbers clearly demonstrate the extensive reach and positive change driven by the AfDB’s core mission.
Record Funding Powers African Progress and Integration
Under Akinwumi Adesina, the AfDB approved an unprecedented $102 billion in financing over the last ten years. This remarkable sum represents 46% of all financing since the AfDB was founded in 1964.
“The African Development Bank financed over $55 billion in support of infrastructure,” Adesina detailed. This critical funding supported roads, railways, airports, seaports, digital and communication networks, as well as health, water, and sanitation projects. [Internal Link: Explore key AfDB infrastructure developments (if available on your site)].
He emphasized that these infrastructure investments have been crucial for accelerating regional integration. Notable examples include backing the vital Lagos-Abidjan highway corridor and Morocco’s pioneering Noor Ouarzazate solar complex. “We have mobilized $15 billion in investment interests for the Lagos-Abidjan corridor,” he announced, highlighting the bank’s power to convene major development partnerships.
Focus on Nigeria and Global Financial Leadership
Discussing Nigeria’s development, Adesina pointed to the AfDB’s continued support. This includes special agro-industrial processing zones in eight states and the Federal Capital Territory, designed to transform agriculture. “We have mobilized $2.9 billion to support the establishment of these zones in 28 more states,” he confirmed.
Adesina also highlighted the AfDB’s ascent as a global leader in financial innovation. “Over the last 10 years, the African Development Bank Group has become a global leader in financial innovations,” he declared. He pointed to achievements like pioneering synthetic securitization in 2015 and the groundbreaking launch of a $750 million hybrid capital offering in 2024 – a first among multilateral financial institutions.
By Abdullah Korede
