BRAZZAVILLE, Republic of the Congo, May 31/APO Group: The African Development Bank Group’s (AfDB) five-day Annual Meetings in Brazzaville concluded on Friday, May 29.
One of the highlights was the governors endorsing President Dr Sidi Ould Tah’s mandate to implement the Bank’s Four Cardinal Points strategic vision.
The governors called on Dr Ould Tah to accelerate the reform of Africa’s financial architecture to mobilize large-scale resources for Africa’s development within the framework of the New African Financial Architecture for Development (NAFAD).
“The Board of Governors approved and encouraged the President of the African Development Bank Group, Dr. Sidi Ould Tah, to implement his vision, ‘the Four Cardinal Points,’ to strengthen Africa’s capacity for action and influence in an increasingly fragmented world,” said the Minister of Economy, Planning, Statistics and Forecasting of the Republic of the Congo, Ludovic Ngatsé, Chair of the Bank Group’s Boards of Governors, during the closing ceremony.
“I would like to warmly welcome the clear, frank and overwhelming support we received,” said Dr. Ould Tah during these Meetings.
More than 4,000 participants from over 81 countries took part in the Bank Group’s Annual Meetings, held under the theme: “Mobilizing large-scale resources for financing Africa’s development in a fragmented world.”
The Annual Meetings, the Bank Group’s main statutory gatherings, were also marked by several major announcements. Angola announced a contribution of €6.5 million to the 17th replenishment of the African Development Fund (ADF). This brings to 25 the number of African countries financing ADF-17, with a total exceeding USD 190 million.
The unprecedented commitment of African countries to financing ADF-17 marks a turning point toward shared responsibility and reinforces African ownership within the development finance architecture and the economic future of the continent.
Several agreements were signed as part of the operationalization of the Bank’s new Four Cardinal Points strategic vision, as well as during a high-level meeting on the Integrated Aviation Transformation Programme in Africa (IATP) and the African Facility for Medicines and Medical Equipment (AMEF). Japan announced USD 10 million in funding for the implementation of AMEF.
As the Annual Meetings kicked off with the Africa Day celebrations on Monday, 25 May, the President of the Republic of the Congo, Denis Sassou N’Guesso, announced the abolition of visas for all African citizens.
“As of January 1, 2027, nationals of all African countries will have visa-free access and will no longer need a visa to come to Congo,” the Congolese leader said, and urged countries to deepen regional integration
Welcoming the landmark decision, Bank President Ould Tah described it as “a courageous and deeply pan-African decision.”
