AFRICAN DEVELOPMENT BANK SUPPORTING TRANSFORMATION OF AFRICA
A year short of its 50th anniversary in 2014, the African Development Bank (AfDB) released on 29 April a new ten-year Africa development strategy for 2013 to 2022, which focuses on the economic transformation of the continent.
The ten-year strategy has two primary objectives:
1. to improve the quality of Africa’s inclusive growth,
2. the transition to a green economy.
Its first and overarching objective is to achieve growth that is more inclusive, leading to reductions in poverty and a corresponding increase in jobs. The second objective is to ensure that this inclusive growth is sustainable, by helping Africa gradually transition to a "green growth” that would protect livelihoods; improve water, energy and food security; promote the sustainable use of natural resources; and spur innovation, job creation and economic development.
The Strategy outlines five Operational priorities for the Bank to deliver its work and improve the quality of growth in Africa:
- Infrastructure development
- Regional economic integration
- Private Sector development
- Governance and Accountability
- Skills and Technology
As well as 3 areas of special emphasis :Fragile states, Agriculture and Food security, Gender.
