AfDB, World Bank meet to map out new joint strategy for Africa

The African Development Bank is holding discussions with the World Bank to map out a new joint strategy for Africa.

The World Bank team is currently in Tunis, where AfDB’s temporary headquarters is located.

The series of meetings, which started January 21, is expected to end today January 23, 2013 between the two Multilateral Development Banks (MDBs).

The Joint AfDB/WB Strategic Planning meeting follows a series of consultations where it was agreed that there was need to come together to explore how best to coordinate operations in Africa in areas of mutual interest and focus in order to optimize impact of interventions.

The AfDB says the goal of the meeting is to discuss challenges and opportunities facing Africa, including rapid economic growth, new natural resource discoveries and urbanization, as well as infrastructure deficits, climate change, food security and fragile states.

According to the Tunis-based organization, the objectives of the Joint Strategy Meeting are to align the strategic directions of respective (AfDB/WB) regional integration programmes;  review the joint portfolio of projects and explore opportunities for enhanced collaboration particularly on regional projects; draw lessons and learn from each other’s experiences and best practices in managing regional projects across Africa; and to strengthen partnerships, knowledge products and collaboration as well as information sharing and dissemination.

“As trends show, Africa is changing very rapidly challenging all conventional norms including the way we do business as Multilateral Development Banks,” said Gilbert Mbesherubusa, AfDB Vice-President in charge of Infrastructure, Private Sector and Regional Integration, at the opening session of the three-day consultation.

The AfDB and the World Bank both have engagements in Africa as financiers, advisors and catalyzers of development across all economic and social sectors.

By Ekow Quandzie