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The African Development Bank (AfDB) says it is ready to execute pledges outlined in its New Development and Business Delivery Model (DBDM) approved last year
In April 2016, the AfDB outlined a new development path for the institution to deliver change for Africa's citiziens through five foundations: moving closer to clients to enhance service delivery, reconfiguring its HQ to support the regions, strengthening the performance culture to attract and maintain talent, streamlining business processes to promote efficiency and effectiveness, and improve financial performance and developmental impact.
The bank says 2016 "was a year of operational accomplishment and institutional renewal", with highlights including the launch of the New Deal on Energy for Africa and the Partnership on Energy at the World Economic Forum in Davos, Switzerland.
"With these approvals, the bank is now ready to fully roll out its new Development and Business Delivery Model (DBDM) to achieve greater developmental impacts," the bank said.
The bank says other milestones achieved include the approval of a competitive salary structure for both internationally and locally recruited staff, establishing performance contracts and recruiting a new senior management team.
Against the backdrop of tough economic operating conditions in 2016 due to a slowdown in continental growth, the bank approved a budget worth US$1bn to Nigeria to help the country deal with declining oil prices, and also supported Algeria's Industrial and Energy Competitiveness Support Programme with a €900mn (US$934mn) loan.
As reported, the AfDB recently pledged US$500mn to support phase two of Egypt's Economic Governance and Energy Support programme.
The bank approved US$245mn in loans and grants to Uganda and Rwanda to finance a transport project to boost intra-regional trade and reduce traffic congestion between Kampala (Busega) City and Mpigi.
In September, Accra in Ghana received a US$83.9mn loan to fund integrated transport and urban development solutions in the wider region.
Meanwhile in December, the bank approved financing for a €769mn (US$798mn) project to rehabilitate urban road infrastructure in Abidjan, Côte d'Ivoire.
In the battle against climate change, AfDB received plaudits from across the continent for the role it played in serving as a trustee to adminster and manage the resources of the Africa Renewable Energy Initiative (AREI).
The bank also led the Africa Pavilion at the COP22 climate talks in Morocco.
By Luke Barras-Hill, Editor, African Review
"Building today, a better Africa tomorrow"... So goes the AfDB's enduring mantra. The often meaningless mission statements and corporate slogans associated with companies intent on squeezing every last drop of revenue out of their business channels to add to yearly figures certainly does not apply here; as a multilaterial development and financing institution concerned with elevating economic progress in African countries, the strings to AfDB's bow continue to grow and astound.
It was only in November that, while sitting in a packed conference room during the Africa PPP Public Private Partnership Conference & Showcase in London, I heard first hand from prominent African business figures some of the praise heaped on the association's capacity development programmes running across the region to align PPP resources for the good of communities that require them the most.
Long may the AfDB's hard work and commitment to affecting this transformational change continue.