AFRICAN DEVELOPMENT BANK PRESIDENT ADESINA TO EMBARK ON FOUR-DAY WORKING VISIT TO CANADA TO STRENGTHEN BILATERAL TIES

The President of the African Development Bank, Dr. Akinwumi Adesina, will lead a delegation to Canada from 17-20 September, along with David Stevenson, Executive Director at the Bank representing Canada, China, Republic of Korea, Turkey and Kuwait.

Other senior members of the delegation include Stella Kilonzo, Senior Director of the Africa Investment Forum; Vanessa Moungar, Director for Gender, Women and Civil Society; and Timothy Turner, Group Chief Risk Officer.

During his visit, President Adesina will hold several meetings with Canadian government officials including International Development Minister, Marie-Claude Bibeau; Finance Minister, Bill Morneau and International Trade Diversification Minister, Jim Carr. The following areas of common interest: innovative finance, gender and climate change, renewable energy are expected to top discussions.

On Monday, 17 September, President Adesina will deliver a keynote address at the launch of FinDev on the theme: “What could women do with $3Billion?” FinDev is a subsidiary of Export Development Canada (EDC), the country’s export credit agency, which opened for business in January 2018 with a mandate to support the growth and sustainability of businesses in developing markets.

The following day in Ottawa, the Bank’s President and his delegation will exchange views with senior Government officials on the role of the African Development Bank in inclusive and green growth, and on solutions to transform the continent. During the Ottawa segment, a major announcement will be made on a new innovative financial instrument to de-risk selected investment opportunities.

In Toronto, the third leg of his tour, President Adesina will address members of the business community to promote the Bank’s upcoming Africa Investment Forum, a “game-changing” gathering of global investors. The Forum, which will take place in Johannesburg, South Africa from 7-9 November 2018, seeks to accelerate investments in Africa. The three-day transaction-focused event will bring together global pension funds, sovereign wealth funds and other investors to de-risk investment opportunities on the continent.

President Adesina and his delegation will wrap up their visit in Calgary, where bilateral meetings with top business leaders and pension fund managers are scheduled.

Adesina’s mission comes on the heels of a successful visit to Côte d’Ivoire and to the African Development Bank Headquarters by Canada’s International Development Minister Bibeau, in August 2018.