Report on the visit of the President of the African Development Bank to the United Arab Emirates

Akinwumi A., Chairman, African Development Bank Group; Adesina concluded her official visit to the United Arab Emirates on Friday (April 1). The three-day trip will include ongoing engagement in Dubai and Abu Dhabi, according to a report by the Pan-African Bank Group. (Video)

The visit, which coincided with the World Government Summit in the final days of Expo 2020 Dubai, explored possible partnerships between the African Development Bank Group and the United Arab Emirates for strategic investments in Africa in the fields of renewable energy, agriculture and food. Production.

His superiority Sheikh Maktoum bin Mohammed Al MaktoumDeputy Governor of Dubai, DeputyPrime Minister And the Minister of Finance of the United Arab Emirates and Chairman of the African Development Bank discussed strategic opportunities to strengthen economic ties between the United Arab Emirates, the Bank and Africa.

Praising the exceptional visionary leadership of the United Arab Emirates, Adesina said, “Africa can learn a lot from the remarkable success of the United Arab Emirates. It is very interesting that Emirates used their resources, motivation and determination to transform the country into what it is today. We truly hope that the United Arab Emirates will become an even more valuable and important investment partner in Africa. The UAE has been a valuable member of the Concession Window African Development Fund, a banking group that has supported low-income countries since 1978. We hope to be able to welcome them as a member of the development of the African Bank at some point. “

Adesina also held a series of bilateral meetings with other senior government officials and heads of subsidiaries in the Emirates. He has specifically met with the Minister of Foreign Affairs for International Cooperation, HE Reem Al Hashimi – is also the CEO of Expo 2020 Dubai – and Minister of State for African Affairs, HE Sheikh Shakput bin Nahyan bin Mubarak Al Nahyan.

While receiving the chairmanship of the African Development Bank Group, the Minister of State for African Affairs, HE Sheikh Shaqbout, spoke about the United Arab Emirates’ desire to diversify the economy of African countries, provide support to small and medium enterprises, and explore community housing investment opportunities. Combine African Fintech start-ups with innovations that allow them to grow and thrive on the continent.

HE Mohammed Saif Al Suwaidi, Chairman of the African Development Bank Group and Managing Director of the Abu Dhabi Fund for Development, signed a Memorandum of Understanding (MoU) on behalf of the respective companies.

“We see the African Development Bank as the continent’s think tank. We believe that Africa is the frontier of the world’s next development and we do not want to miss it.

After Adesina and HE Sultan சுலாயம், CEO of Dubai Ports World, the world’s largest port director with 78 maritime and domestic terminals in more than 60 countries. The Bank has actively funded port infrastructure projects in Africa. Adesina and சுலாயம் Investment cooperation linking African ports with renewable energy and industrial hubs, including food production and agribusiness, was discussed.

The CEO of Mazda, an innovative Abu Dhabi-based company specializing in renewable energy, Dr. Equally constructive discussions took place with Mohammad Jameel Al Ramahi; HE Ahmed Saeed Al Galilee, CEO and Chief Strategy and Mubadalah Risk Officer, is a sovereign investor who manages the Emirati and diversified portfolio of global assets; With senior executives at TAQA, a leading Emirati energy company; And with the Abu Dhabi Investment Authority (ADIA).

Discussions focused on investment coordination between the Etihad 7 Energy Initiative in the United Arab Emirates and the African Development Bank’s Desert to Power Initiative, whose combined potential will power 350 million people on renewable energy.

As the keynote speaker at the Annual Dubai Investment Forum and in meetings with key government, business and investment leaders, Mr. Adesina highlighted the continent’s largely unused potential in many sectors, and the Bank’s unparalleled knowledge of Africa’s growth and investment landscape. As risk management tools for companies.

The President of the African Development Bank has invited key leaders and companies to participate in the next edition of the Africa Investment Forum, the continent’s leading investment platform, in November 2022. Founded by the African Development Bank and seven other partners, the African Investment Forum companies have attracted $ 100 billion in investment interest in Africa since its launch in 2018.

The African Development Bank Group is Africa’s leading infrastructure investor and the only Triple A-rated financial institution on the continent.