The World Bank has called for more collaborative and impact-focused partnerships to tackle Africa’s pressing development challenges, highlighting that friendship and goodwill alone are not enough to achieve meaningful progress.
This call was made during the closing ceremony of the African Development Bank’s 2025 Annual Meetings in Abidjan, Côte d’Ivoire, where World Bank President Ajay Banga paid tribute to outgoing AfDB President, who will conclude his 10-year tenure at the end of August. While acknowledging their strong personal relationship, Banga emphasized that effective development cooperation must be anchored in results-driven strategies.
“Our friendship mattered, but friendship alone is not a strategy,” he said, underscoring the need for deeper institutional collaboration.
Banga highlighted the Mission 300 initiative as a clear example of what is possible when development institutions align their efforts. The joint initiative between the World Bank and AfDB aims to provide electricity access to 300 million people across Africa, showcasing a shared commitment to large-scale, systemic change.
“It’s a demonstration of what is possible when multilateral development banks work like a system,” Banga said, stressing that development impact must be measured by tangible outcomes—jobs created, lives improved, and opportunities unlocked.
He noted that while progress has been made, sustained effort and private sector investment remain essential to delivering long-term change across the continent. “What we need to show is real progress, real results, real opportunities,” he added.
The meeting also marked a leadership transition at the AfDB, with Sidi Ould Tah, former Mauritanian Finance Minister and outgoing President of the Arab Bank for Economic Development in Africa, elected as the new AfDB President. Banga welcomed the appointment and expressed confidence in continued collaboration between the institutions.
“The Bank will grow stronger because our work is far from done, and we are united in our shared purpose,” he said.
Held under the theme “Making Africa’s Capital Work Better for Africa’s Development,” the 2025 Annual Meetings drew over 6,000 delegates, including African leaders, underscoring the scale and urgency of mobilizing resources and reforms to transform Africa’s economic future
