The Annual Meetings of the African Development Bank (AfDB) officially open this Tuesday, May 24, in Accra, Ghana. Resumed, in part, in person, after two years in videoconference, due to the Covid-19 pandemic, these meetings are the most important event of the year.
The AfDB’s annual meetings attract some 3,000 delegates: Bank executives and shareholders to take stock. It is also an opportunity for government and business representatives to discuss African economic issues. This year’s theme is “Fostering Climate Resilience and a Just Energy Transition for Africa”, a theme that aligns with preparations for COP27 in Sharm el-Sheikh in November.
The AfDB President, Akinwumi Adesina, spoke to the press on the eve of the event about the major challenges of the conference and the dynamics that will be instilled.
Drought, cyclones and extreme weather events are devastating the continent, a climate change that has a human and financial cost, said Akinwumi Adesina. “The bill is $50 billion, every year, by 2040. We are not responsible for climate change, but we suffer disproportionately from its negative consequences,” he said.
The AfDB president insists on his institution’s commitment to help reduce the continent’s greenhouse gas emissions. There is no question of financing coal, for example. However, he remains cautious about other energy sources, like the Angolan president who recently called on the African Oil Producers Organization not to abandon fossil fuels in haste.