Kandeh Sesay
As global leaders gather in New York for the 79th United Nations General Assembly (UNGA), the African Development Bank (AfDB) is taking center stage to address some of the most pressing issues affecting Africa’s development, particularly climate change, financial reforms, and economic resilience.
Dr. Akinwumi Adesina, President of the African Development Bank Group, is leading a high-level delegation to UNGA 79, where the focus is on strengthening partnerships and rallying support for Africa’s sustainable development. This year’s UNGA theme, “Leaving no one behind: Acting together for peace, sustainable development, and human dignity,” underscores the importance of inclusive progress for present and future generations, a message that resonates with Africa’s development needs.
Pushing for Financial Reforms and Climate Resilience:
One of the key priorities for AfDB at UNGA 79 is advocating for the reform of the global financial architecture. With African nations often facing unfavorable borrowing terms and limited access to global financial resources, Adesina is set to push for reforms that ensure equitable access to financing, especially for climate resilience projects. These reforms are crucial for Africa, which bears the brunt of climate change impacts despite contributing the least to global emissions.
“Africa is on the front lines of climate change, and yet we receive only a fraction of the global climate financing,” Adesina stated ahead of the UNGA meetings. “We must create a more just and equitable financial system that provides the necessary resources for Africa to mitigate and adapt to climate challenges.”
Scaling Up the Desert to Power Initiative:
One of the most ambitious programs the Bank is highlighting at UNGA is the Desert to Power initiative. Aiming to create the world’s largest solar energy zone in Africa’s Sahel region, the program seeks to connect 250 million people to electricity by 2030. Adesina will emphasize the critical need for financial and technical support from international stakeholders to ensure this groundbreaking project achieves its targets.
During a fireside chat hosted by CNN, Adesina will detail how the Desert to Power initiative not only addresses Africa’s urgent energy needs but also positions the continent as a global leader in renewable energy solutions.
Advocating for the African Development Fund:
Another significant focus for the Bank at UNGA is the replenishment of the African Development Fund (ADF), the concessional financing arm of the AfDB. Since its inception in 2001, the ADF has been crucial in supporting Africa’s most fragile states. The Bank is seeking to secure an ambitious $25 billion replenishment to continue advancing development projects across the continent, particularly in conflict-affected and vulnerable regions.
Digital and Agricultural Transformation:
In line with the Bank’s High 5s agenda, which includes goals like “Light Up and Power Africa” and “Feed Africa,” Adesina will also address the need for digital inclusion and agricultural transformation. As a co-chair of the Access to the Digital Economy initiative, Adesina will discuss efforts to provide digital access to 100 million people in Africa, highlighting how technology can drive growth, innovation, and development across key sectors, including agriculture.
“Our goal is to reach 100 million African farmers over the next decade, ensuring that they have access to the digital tools and resources they need to increase productivity and improve their livelihoods,” Adesina said.
Africa’s Role in Global Peace and Prosperity:
Adesina’s participation in the Summit of the Future, a high-level event at UNGA, will further advance Africa’s role in global peace, prosperity, and sustainability. The summit will focus on adopting a new global blueprint for future development, which will include a “Pact for the Future” to guide international cooperation on major challenges such as climate change, technological advancement, and financial equity.
As the African Development Bank continues to champion Africa’s development at the UNGA, the global community will be called upon to increase their support and collaboration, ensuring that the continent can meet its development goals and contribute meaningfully to the world’s collective future.
