TUNIS – The African Development Bank has approved a new 10-year strategy that will focus on quality and sustainability of growth on the African continent.

"The economic transformation of the continent is the cornerstone of the African Development Bank’s new 10-year (2013-2022) strategy.

"This document reflects Africa’s vision for itself, a vision of transformation that is achievable,” said Donald Kaberuka, the AfDB president in a statement. 

"It reaffirms the bank’s strategic choices around infrastructure, economic integration and the private sector. 

"It charts the way towards inclusive growth that spans age, gender and geography, and takes special account of Africa’s fragile states, which are home to 200 million people, as well as building climate resilience and the sustainable management of natural resources.”

The strategy identifies the five main channels through which the bank will deliver its work and improve the quality of growth in Africa. They are infrastructure development, regional economic integration, private sector development, governance and accountability, skills and technology. 

The new strategy will also seek new and creative ways of mobilising resources to support Africa’s transformation, especially by leveraging its own resources. Wider use of public-private partnerships, co-financing arrangements and risk-mitigation instruments will draw in new investors. 

Agencies