The AfDB annual assemblies attract some 3,000 delegates: leaders and shareholders of the Bank to take stock. It is also an opportunity for representatives of governments and businesses to discuss African economic issues. This year's theme: "Fostering climate resilience and a just energy transition for Africa", a theme that aligns with preparations for COP27 scheduled for Sharm El-Sheikh in November.

The president of the AfDB, Akinwumi Adesina, spoke on Monday, May 22, to the press about the major issues of the conference and the momentum that will be generated.

Droughts, cyclones and extreme weather phenomena are devastating the continent, a climate change that has a human and financial cost, described by Akinwumi Adesina.

"The bill amounts to 50 billion dollars each year, through to 2040. We are not responsible for climate change, but we suffer disproportionately from its negative consequences", he declared.

The president of the AfDB insists on his institution's commitments to contribute to reducing the continent's greenhouse gas emissions. No more financing coal, for example. However, he remains cautious about other sources of energy, like the Angolan president who recently called, at a meeting of the organization of African oil producers, not to hastily abandon fossil fuels.

"What I want to say is that natural gas must remain a fundamental element of Africa's energy system because we need stable energy systems, we need to create jobs and we need industries. Africa cannot be poor, we want to be rich too. Our populations deserve it", he continued.

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On climate action, the AfDB has doubled its budget, assures Akinwumi Adesina. But he insists on the necessity of climate justice and reminds that northern countries have commitments to respect toward the continent.

Another subject of interest is Ukraine and the food shortage on the continent that this conflict is creating. On the eve of this major assembly, the board of directors of the African Development Bank approved a 1.5 billion dollar facility. This initiative is to benefit 20 million African farmers who will receive seeds in particular. Objective: quickly produce 38 million tonnes of food.