Quick Summary
- The World Bank is calling for more collaborative and results-driven partnerships to address Africa’s key development challenges.
- President Ajay Banga emphasized that personal relationships are not enough—strategic action is essential for lasting impact.
- The Mission 300 initiative, co-led by the World Bank and AfDB, aims to provide electricity to 300 million Africans.
- Former Mauritanian Finance Minister Sidi Ould Tah was elected as the new AfDB president, succeeding Dr. Akinwumi Adesina.
The World Bank has called for stronger, results-driven partnerships to address pressing development challenges across Africa.
This appeal highlights the need for coordinated efforts in tackling global issues such as climate change, pandemics, and economic instability—problems that require collaboration from governments, development banks, and the private sector.
Friendship Is Not a Strategy, Says World Bank President
World Bank President Ajay Banga made this call during a tribute to African Development Bank (AfDB) President Dr. Akinwumi Adesina at the closing ceremony of the AfDB’s 2025 Annual Meetings in Abidjan, Côte d’Ivoire.
Banga praised Adesina’s leadership but stressed that personal relationships alone are not enough to drive Africa’s development forward.
“Friendship alone is not a strategy, and we both knew that,” he stated.
The event marked Adesina’s final Annual Meeting as AfDB president, as he prepares to step down at the end of August after ten years in office.
Early Engagement Sparked a Renewed Partnership
Reflecting on his first meeting with Adesina—while still a candidate for the World Bank presidency—Banga shared how that early engagement laid the foundation for a stronger partnership between the two institutions.
However, he was clear that personal rapport must be backed by actionable plans and measurable impact.
Mission 300: Powering Africa Through Strategic Collaboration
Banga pointed to Mission 300, a joint initiative by the World Bank and AfDB, as a model of effective, goal-oriented partnership.
The project aims to bring electricity to 300 million people across Africa, showcasing what’s possible when multilateral banks work together.
“It’s a shared ambition to bring energy to 300 million people in Africa,” Banga said. “A demonstration of what is possible when the multilateral development banks work like a system.”
He added that the focus now must shift to delivering real results—creating jobs, attracting private investment, and improving the quality of life for millions.
New Leadership for the AfDB
During the meetings, AfDB shareholders elected former Mauritanian Finance Minister Sidi Ould Tah as Adesina’s successor.
Tah previously served as President of the Arab Bank for Economic Development in Africa (BADEA) for ten years.
Banga welcomed the appointment and expressed confidence in Tah’s ability to continue the Bank’s mission.
“Our work is far from done, and we are united in our shared purpose,” Banga noted.
Looking Ahead: A Continued Commitment to Africa
Banga closed his remarks by thanking Adesina and the AfDB team for their dedication and passion for Africa’s growth.
“Thank you for your leadership, your friendship, your passion, and your commitment to Africa,” he said.
The 2025 AfDB Annual Meetings were held under the theme “Making Africa’s Capital Work Better for Africa’s Development” and drew more than 6,000 participants, including several African heads of state.