President of Ivory Coast Alassane Ouattara on Tuesday led celebrations to mark the 60th anniversary of the African Development Bank.
The Ivorian leader said this is an opportunity for everyone to see that the African Development Bank has financed some pivotal infrastructure and helped improve the living conditions of millions of Africans.
“The Bank is a source of pride and hope for Africa,” President Ouattara said.
He spoke on the second and official day of the Bank’s Diamond jubilee festivities which took place in the country’s economic capital Abidjan, which is home to the institution’s headquarters.
“Our Bank is a steadfast support in times of crisis. Africa still has floods and wars and hunger is rife. Therefore the Bank must do even more and encourage states to invest more across climate, agriculture, wars and endeavour to pursue peace and democracy to bring these wars to an end,” he said.
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The head of the African Development Bank Group, Dr Akinwumi Adesina described the Bank’s 60th Anniversary celebrations as a “day of joy”, and praised the host country President Ouattara as “a pillar of extraordinary support”.
Adesina paid tribute to the Bank’s achievements since its inception in Abidjan in 1964. He recalled how the Bank has supported over 6,575 projects across the continent and how – in the past 10 years alone – it has invested $77 billion across 3,000 projects to become Africa’s most trusted development partner.
Moreover, he thanked President Ouattara for hosting the Bank’s headquarters in Abidjan and for his strong support.
He mentioned how in 2019 the Ivorian president helped the Bank secure a general capital increase of $115 billion – the largest increase in the Bank’s history.
The Bank’s total capital has risen to $318 billion earlier this May, in yet another demonstration of shareholder support.
