Issue 8: Leading the Way in Aid Transparency, Opening the ‘Road of Hope’ in Comoros, & Powering Development in Benin with Improved Electricity Supply
In this edition, we share African Development Bank President Akinwumi Adesina’s latest insights on mobilizing financial resources for the continent, celebrate our Sovereign Portfolio’s first-place ranking in the Aid Transparency Index, and highlight the inauguration of a transformative road in #Comoros built with Bank support. ?
“Without transparency, there is no credibility.”?
The African Development Bank’s Sovereign Portfolio retains the top spot in the 2024 Aid Transparency Index by Publish What You Fund, scoring 98.8 out of 100 and ranking first among 50 global development institutions.
This achievement is a testament to our dedication to publishing consistent, high-quality, and easily accessible data about our aid flows, says Bank President Dr Akinwumi Adesina.?
“Without transparency, there is no credibility. Without credibility, a multilateral development institution like the African Development Bank cannot hope to fulfill its mandate to improve the lives of ordinary people by promoting transformational economic change.”??
Details on the #2024Index, including our Non-Sovereign Portfolio performance: https://bit.ly/4f1ihrt
The ‘Road of Hope’ in Comoros?
The Union of the Comoros is celebrating the completion of a major road linking its agriculturally rich areas and improving access to popular tourist centers.??
Earlier this month, Bank President Dr. Akinwumi Adesina joined President Azali Assoumani to inaugurate the National Road 2, a $30 million African Development Bank-funded project connecting the capital Moroni to Foumboni.
The road represents a much-needed addition to the country’s transport infrastructure. It is expected to increase average daily traffic along the route by 27%, reducing operating costs by 30% for cars and 33% for trucks. The roadway will reduce average journey times by 50%.??
READ: https://bit.ly/4czmukm
Adesina outlines African Development Bank’s successes in mobilizing resources for Africa’s development needs?
Addressing heads of state and government at the 6th Mid-Year Coordination Meeting of the African Union (AU) in Accra, Ghana, Dr Adesina highlighted the Bank’s recent general capital increase from $201 billion to $318 billion. This increase, approved by the Board of Governors during its Annual Meetings in Nairobi last May, will enable Africa’s only AAA-rated financial institution to preserve its status and meet the continent’s urgent and increasing development needs.?
Adesina briefed the leaders on growing global confidence in the Bank and its progress in spearheading global efforts to ensure that Africa’s natural wealth is considered a measure of Gross Domestic Product (GDP).?
More updates from #AUMYCM : https://bit.ly/3zO801C ?
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Driving development through electricity supply in Benin?
Electricity supply to Sèmè-Kpodji in #Benin allows Fatima Hounkanrin to keep her shop open late into the night. She’s among the first beneficiaries of the?Electricity Corporation of Benin Sub-Transmission and Distribution System Restructuring and Extension Project. The project is funded by the African Development Fund?(ADF), the concessional window of the African Development Bank Group, the French Development Agency, and the Benin government. ?
“Before, there was no lighting in the area, and we used to close at nightfall,” says Hounkanrin. “Now that we have electricity, it helps, and we’re very pleased. We’re genuinely grateful to our benefactors for what they’re doing for us. Some places haven’t yet benefited from the project, so we ask you to consider them because light drives development.”?
“In time, the project will provide reliable electricity supply to the residents of the 13 cities and their surrounding areas, including schools, health centers, and commercial and industrial businesses. In the medium term, the work will mean that the Electricity Corporation of Benin has 40,000 additional new subscribers, including at least 51 percent women.” Vissi Arnaud Adikpeto, Project Coordinator?
Learn more about this transformational initiative: https://bit.ly/3LEsWLr #PowerAfrica?
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3 个月Let's hope, this new generation of Intellectuals, doing their Job sincerely with no selfishness and the Military to respect defending the Government Stability, and every part of the Government performing its Job for the Interests of the Country/Nation & respecting the Laws, important for building the Government & Political Stability, which is very important to encourage the Investment, which will be creating the Jobs, which would improve Family's Economy and with Country's Economic Improvement, means increasing Intellectuals in all Camps of Science, like that should in Developing Countries(To wake und doing what is needing the Country/Nation, respect the Political Security Stability, and then reaching to the Needed-Development!!!).
Fire Safety Design and Explosion Engineer and Health and Safety Professional, MSc Fire and Explosion, MIFireE, NDipSAM, CMIOSH, UK-AFI, MIAAI).
4 个月$1 Billion on loan to South Africa, a country with the highest violent crime rate in all of its own cities in all of Africa. A country with the highest corruption rate, an economy whose infrastructure is moribund and who openly supports terrorism. A regime that openly supports dictatorships and implements a system of racism that is now seen as reversed racism and collective punishment of a minority of whites. The African National Bank is not fit for purpose.
Travailleur chez ISS A/S | Terraform, Produits Docker, Gestion du temps
4 个月Instructif?!