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Kofi A. Annan Eminent Speakers Series 2023 Edition “The Changing Global Development Finance Architecture: Implications for Multilateral Development Banks Post-Covid” - Welcome Remarks by Dr. Akinwumi A. Adesina President, African Development Bank Group

· Akinwumi Adesina, President of the African Development Bank Group (International)

Summary written by Dark Majestic in its own words · topics: development and emerging economies

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· Akinwumi Adesina Wiki · African Development Bank Group WikiKofi A. Annan Eminent Speakers Series 2023 Edition “The Changing Global Development Finance Architecture: Implications for Multilateral Development Banks Post-Covid” - Welcome Remarks by Dr. Akinwumi A. Adesina President, African Development Bank Group

ContextWelcome remarks at the 2023 Kofi Annan Eminent Speakers Series on the global development finance architecture; the African Development Bank finances Africa's development and wants lenders reformed after Covid.

Why it mattersAdesina urges multilateral lenders to take more risk and use their balance sheets fully.

Problems raised
  1. Development finance needs have grown after Covid.
  2. Multilateral banks are too cautious with risk.
  3. Balance sheets are underused.
Solutions proposed
  1. Raise development banks' ambition and resources.
  2. Optimise balance sheets and take more risk.
  3. Leverage the private sector.
Read full speech on afdb.org ↗

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