60th Annual Meeting of the African Development Bank
The Minister of State for General Duties Henry Musasizi represented Finance Minister (the Governor of the Bank for Uganda) Matia Kasaija at this year's 60th Annual Meeting of the African Development Bank (AfDB) and 51st Annual Meeting of the African Development Fund hosted by the Republic of Cote d'Ivoire in Abidjan from 26th to 29th May 2025.
This year's Annual Meetings have been held under the theme, "Making Africa's capital work better for Africa's development”.
At the meeting, the Hon. Musasizi highlighted the need for the Bank to support Uganda's ten-fold growth strategy (Agro-industrialization, Tourism, Mineral Based Industrial Development including Oil and Gas and Science, Technology and Innovation) as well as the Enablers (infrastructure development, irrigation, industrial parks development, human capital development and lowering the cost of money for the private sector) which are aligned to the Bank's strategy.
The Minister also thanked the out-going AfDB President Dr. Akinwumi.A. Adesina for steering the Bank for the past ten years and for the support he has rendered to the Republic of Uganda while at the helm of the Bank.
As at end April 2025, AfDB and Uganda had twenty (20) active (signed) public operations worth USD 2,123.35 million (UA 1,596.5 million). The portfolio is dominated by the Integrated Transport Infrastructure Services Program with projects worth USD 1,619.81 million (UA 1217.9).
This year's annual meetings marked a historical landmark in the life of the Bank because the Governors gathered in Abidjan to vote the next President of Africa's Premier Multilateral Development Finance Institution.
The elections were won by Mr. Sidi Ould Tah from Mauritania who has been the President of the Arab Bank for Economic Development in Africa (BADEA) for the past 10 years. Mr. Sidi is now the President elect for the Bank for the period 1st August 2025 to 30th July 2030.
The Minister also met the Ugandans working with the African Development Bank. Uganda has 78 staff serving in various positions at the African Development Bank.