The African Development Bank Group (AfDB) is sharpening its focus on regional development financing, with its new president, Sidi Ould Tah, pledging stronger collaboration with Côte d’Ivoire, the host nation of the Bank.
Ould Tah, who assumed office in May as the ninth president of the pan-African lender, paid a courtesy call on Ivorian President Alassane Ouattara in Abidjan on Wednesday. He expressed gratitude for Ouattara’s “crucial role and valuable support” during his election, and reiterated the country’s importance to the institution.
“Côte d’Ivoire is not only the Bank’s home but also a strategic partner in advancing Africa’s development priorities,” Ould Tah said, citing the government’s backing of the Bank’s new headquarters project in Abidjan.
Portfolio Expansion
The AfDB’s portfolio in Côte d’Ivoire has seen rapid growth, rising from $460 million in 2015 to $3.1 billion in 2023. Investments span energy, transport, agriculture, health, and social infrastructure. Key projects include agricultural modernisation and cross-border transport corridors, initiatives aimed at boosting both national growth and regional integration.
Such financing is particularly significant for West Africa, where infrastructure gaps and energy deficits continue to weigh on competitiveness. Côte d’Ivoire, one of the region’s fastest-growing economies, has emerged as a hub for AfDB-supported projects that link trade and investment across borders.
Mobilising African Capital
In remarks to the press, Ould Tah underlined the urgency of mobilising domestic resources, including pension funds, to finance development in an environment of constrained global capital flows. “We must mobilise all financial resources within the continent to address the challenges,” he stressed.
Analysts say this signals AfDB’s intent to lean more heavily on Africa-based institutional investors to plug funding gaps in infrastructure, green energy, and industrialisation—sectors where demand for financing far outstrips supply.
Consolidating Strategic Partnerships
For Côte d’Ivoire, hosting the AfDB is not only symbolic but also an economic advantage. The Bank has operated from Abidjan since its founding in 1965, anchoring the city as a centre for African development finance. By reaffirming ties under new leadership, both parties aim to accelerate projects that create jobs, enhance productivity, and attract private investment.
As Ould Tah prepares to steer the Bank through a period of global financial uncertainty, his engagement with Côte d’Ivoire underscores the institution’s broader role: not just as a lender, but as a catalyst for Africa’s economic resilience and integration.
