The African Union (AU) and the Arab Bank for Economic Development in Africa (BADEA) have launched the Arab-Africa Financial Consortium (AAFC), a strategic partnership aimed at boosting financing for development in Africa.
The launch ceremony took place on the sidelines of the 6th AU Mid-Year Coordination Meeting in Accra, Ghana.
President Nana Addo Dankwa Akufo-Addo emphasized the importance of strong partnerships in driving development and overcoming complex challenges such as economic uncertainties, geopolitical tensions, and climate change.
He commended BADEA for its dedication to Africa’s development over the past 50 years and its agility in responding to development challenges.
President Akufo-Addo urged the partners to build on past successes and work together to address future challenges, striving for a more prosperous, inclusive, and sustainable future for all.
Fahad Aldossari, Chairman of BADEA’s Board of Directors, pledged that AAFC would work diligently to promote rapid development in Africa over the next 50 years, leveraging resources and expertise through Arab-African financial institution collaboration and coordination.
