PRESIDENT Alassane Ouattara of Cote d’Ivoire led the celebration of the African Development Bank’s (AfDB) 60th anniversary on Tuesday, highlighting the institution’s pivotal role in improving the lives of millions of Africans. Speaking at the Bank’s Diamond Jubilee event in Abidjan, where the Bank’s headquarters are located, President Ouattara acknowledged the tremendous infrastructure advancements funded by the AfDB but stressed that more work remains to be done.
‘This is an historic milestone and a cause for celebration, but it is also an opportunity to recognise the African Development Bank’s contributions to infrastructure and to the betterment of millions of lives,’ Ouattara said. He described the AfDB as a ‘source of pride and hope for Africa’ while urging further action to tackle ongoing issues such as climate change, wars, and hunger across the continent.
‘Our Bank is a steadfast support in times of crisis,’ Ouattara added, emphasising the need for greater investment in key areas such as climate resilience, agriculture, and peace initiatives. ‘Africa still has floods, wars, and hunger is rife. Therefore, the Bank must do even more and encourage states to invest across these areas and strive for peace and democracy to end these conflicts.’
The event marked the second day of the AfDB’s 60th anniversary celebrations. Dr Akinwumi Adesina, President of the AfDB Group, hailed the occasion as a ‘day of joy’ and praised President Ouattara for being a ‘pillar of extraordinary support’ for the Bank’s operations.
Adesina reflected on the AfDB’s significant contributions since its founding in 1964. Over the past 10 years, the institution has invested $77bn in over 3,000 projects, supporting infrastructure development and transforming Africa into a more connected and sustainable continent. He expressed gratitude to President Ouattara for hosting the Bank’s headquarters and highlighted the 2019 capital increase of $115bn, secured with the president’s help—the largest in the Bank’s history.
‘This gives us the firepower to do more for Africa,’ said Adesina, adding that the Bank is now ‘bigger, bolder, and better’ positioned to tackle future challenges. He pointed to the High 5s initiative—goals aimed at powering, feeding, industrialising, and integrating Africa, while improving the quality of life for its people.
Since Adesina’s presidency began in 2015, the AfDB has provided more than $55bn in infrastructure support, financing projects across sectors like energy, transport, digital infrastructure, and water sanitation. As the largest multilateral financier of African infrastructure, the Bank’s impact has touched the lives of over 400 million people.
Adesina highlighted the progress in electrifying Africa, noting that 52 percent of the population now has access to electricity, compared to 25 percent in 2016. He also spotlighted the $20bn desert-to-power project in the Sahel, which aims to deliver 10,000 megawatts of electricity for 250 million people across 11 countries.
The AfDB’s role in mobilising $72bn to boost agricultural potential and its climate action efforts were also acknowledged. Through initiatives like the Africa Adaptation Acceleration Programme and the Climate Action window, the Bank has raised $25bn and $14bn, respectively, to help the continent mitigate and adapt to climate change.
Adesina concluded with a rallying call for collective action: ‘This celebration is a call to action to build the Africa we want to see. May the African Development Bank keep scoring development goals for Africa.’
The milestone celebration underscored both the Bank’s achievements over the past six decades and its continuing role in shaping Africa’s development future.
