Ghana is set to host the African Development Bank Group’s next Annual Meetings in May 2022, following the signing of a Memorandum of Understanding between the two parties on Monday.

The 57th Annual Meetings of the African Development Bank and the 48th Annual Meeting of the African Development Fund will take place from 23 to 27 May 2022. Because of Covid-19 considerations, plans are underway to hold the meetings in a hybrid format, with the physical presence of Governors, Executive Directors and Bank senior management and officials at the Accra International Conference Centre, and others participating virtually.

Ghanaian Finance Minister Kenneth Ofori-Atta, the current chair of the Bank’s Boards of Governors, signed the agreement, signalling the country’s preparedness to make the event “super successful and unprecedented in the history of the Bank Group.” Secretary-General Vincent Nmehielle signed on behalf of the African Development Bank Group.

Ofori-Atta underscored the role and strategic importance of the Bank Group as a catalyst for Africa’s economic development, particularly in addressing the devastating impact of the health and economic crisis brought on by Covid-19 and climate change.

“These are not normal times and we must do whatever it takes to make the African Development Bank that institution that fundamentally our constituents need and through its activities, respond to the massive challenges confronting our continent,” he said.

He commended the President of the Bank Group, Dr Akinwumi A. Adesina, for his efforts to lead the institution into “a key pillar” for Africa’s transformation.

While noting that some progress had been achieved, Ofori-Atta said it was inadequate to propel the continent to secure a green, inclusive and robust recovery.

The Annual Meetings are the most important annual statutory event, at which the Boards of Governors of the Bank and the African Development Fund review the Group’s activities over the previous year. The 2022 event will also provide an opportunity to take stock of the continent’s response to the Covid-19 pandemic, how to ramp up vaccination against the pandemic and the growing threat posed by climate change.

Secretary-General Nmehielle said the signing of the MoU, which defines the responsibilities between the host country and outlines the various requirements for hosting meetings, marked the commencement of planning towards the 2022 event.

He said in addition to the key statutory engagements, the event will feature knowledge events that will deliberate on the continent’s challenges, including cross-cutting issues.

“On behalf of the President of the Bank Group, I wish to assure the Government of Ghana of our commitment and availability to work with you towards a successful hosting of the meetings. We’d continue to engage with the host country team throughout the preparatory process,” Nmehielle stated.

He also conveyed the Bank’s appreciation to Ghana’s President Nana Akufo-Addo for his continued support for the Bank.

Present at the signing were senior Bank officials, including Country Manager Eyerusalem Fasika and senior officials of the Ghana Ministry of Finance.

The Bank’s Annual Meetings were held virtually in 2020 for the first time in its history due to the Covid-19 pandemic.

Ghana has been a member of the Bank Group since its inception in 1964.