AfDB to harp on energy transition at annual meetings in Ghana

The African Development Bank (AfDB) Group is set to hold its annual meeting this year in Accra, Ghana where it will push for climate resilience and just energy transition as well as launch its African Economic Outlook (AEO). Speaking during a press conference yesterday to herald the event, the Secretary-General of the Bank Group, Prof. […]

The African Development Bank (AfDB) Group is set to hold its annual meeting this year in Accra, Ghana where it will push for climate resilience and just energy transition as well as launch its African Economic Outlook (AEO).

Speaking during a press conference yesterday to herald the event, the Secretary-General of the Bank Group, Prof. Vincent Nmehielle, said the theme of the annual meeting is: ‘Achieving climate resilience and a just energy transition for Africa’ and that it will hold from 23 to 27 of May 2022.

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Responding to questions, he said the theme of the meeting was chosen in line with the most pressing social issues, adding that the African Development Fund (ADF) will also be marking its 50th anniversary during the event.

The acting Chief Economist and Vice President for Governance and Knowledge Management, AfDB, Prof. Kevin Urama, said the bank will launch the Africa outlook in support of climate resilience and just transition towards moving to net-zero carbon emission globally and the benefits and opportunities inherent for Africa.

Urama said the chosen themes for the knowledge events are apt as Africa and the world battle COVID-19, energy transition as well as the Ukraine crisis.

While justifying the theme, he also said Africa will be hosting the COP27 in Egypt after the COP26 in the United Kingdom, noting that climate and energy transitions have been at the front burner in global discourse.

The Annual Meetings are the Bank Group’s most important event, attracting around 3,000 delegates and attendees yearly.

Commenting, the Vice President for Power, Energy, Climate, and Green Growth at AfDB, Prof. Kevin Kariuki, said the bank is doubling the fund available for climate finance in the next five years, which will be a $25bn commitment from the $13bn it has spent over the last five years.