African Development Bank Group Annual Meetings in Egypt: an ideal setting for concrete proposals towards inclusive, sustainable growth in Africa

African Development Bank Group Annual Meetings in Egypt: an ideal setting for concrete proposals towards inclusive, sustainable growth in Africa

In a global context marked by multiple global crises since the emergence of Covid-19 in 2020, Africa has shown resilience. Amid headwinds, the continent continues to show positive economic growth. According to the African Development Bank's (http://www.AfDB.org) Africa's Macroeconomic Performance and Outlook (https://apo-opa.info/40FddSu), the continent's real gross domestic product (GDP) could expand by an average of 4% in 2023-2024. This is above the global averages of 2.7% and 3.2%.

The report shows that 53 of the Bank's 54 African member countries increased their GDP in 2022, which could continue in the next two years. The additional wealth created is expected to exceed 5% in several countries, including the Democratic Republic of the Congo (6.8%), The Gambia (6.4%), Togo (6.3%), Libya (12.9%), Mozambique (6.5%), Niger (9.6%) and Senegal (9.4%). Even so, apart from climate risk, many challenges remain, such as poverty and inequality, which, albeit declining, remain a concern.

The African Development Bank is dedicating its 2023 Annual Meetings, scheduled for (https://apo-opa.info/3Ap2TC9) 22 to 26 May in Sharm El Sheikh, Egypt, to "Mobilizing Private Sector Financing for Climate and Green Growth in Africa." The stakes are high. If Africa achieves inclusive growth and sustainable development, it will lift millions out of poverty and