The African Development Bank Group, leading in transforming Africa's development, hosted its 2024 Annual Meetings in Nairobi, where six African Presidents joined President Dr. Akinwumi Adesina in calling for global financial reform to support Africa's economic transformation. Kenya pledged $100 million to increase its shareholding in the Bank and committed $20 million to the African Development Fund. President Ruto praised the Bank's role in infrastructure development and supported channeling IMF Special Drawing Rights through multilateral development banks. Over 5,000 delegates attended, and Adesina highlighted the Bank's investments, including the $10 billion Alliance for Green Infrastructure in Africa. Partnerships with the Islamic Development Bank Group and initiatives like Affirmative Finance Action for Women aim to catalyze inclusive development. The meetings emphasized mobilizing financing for climate resilience and maintaining the Bank's strong financial position to maximize impact in Africa's development.
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https://www.afdb.org/en/news-and-events/press-releases/african-leaders-join-african-development-banks-call-action-reform-global-financial-architecture-its-2024-annual-meetings-71373
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