Greece Foreign Minister Dendias Visits the African Development Bank

Greece Foreign Minister Visits the African Development Bank (News Central TV)
FILE PHOTO: Greek Foreign Minister Nikos Dendias attends a news conference with his Russian counterpart Sergei Lavrov, in Moscow, Russia February 18, 2022. REUTERS/Maxim Shemetov/Pool/File Photo

Greece is dedicated to increasing its partnership with Africa. In order to take advantage of its experience and understanding of the continent, an official team headed by the Greek Foreign Minister Nikos Dendias visited the African Development Bank Group’s headquarters.

In charge of a delegation, the Minister expressed a desire to learn more about the Bank’s operations, functioning, and intervention techniques.

On behalf of the Bank’s President, Simon Mizrahi, Acting Vice President for Technology and Corporate Services at the African Development Bank, greeted the Greek delegation. The Bank Group, Africa’s leading multilateral development financing organisation, was cited by Mizrahi as the appropriate partner for fostering closer ties with the continent.

He added that the Bank is given a triple-A rating by the major rating agencies, and he highlighted its skills, knowledge base, and network of illustrious partners.

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He mentioned the World Bank, the European Union, and the Agence française de développement among them. Thus, member nations have access to convincing data on African development axes, initiatives, and trends.

The African Development Bank Group’s constituent organisations were discussed in a presentation by Gauthier Bourlard, Special Advisor to the Bank’s President. One of these is the African Development Fund, which offers low-interest loans to low-income African nations.

He described the Bank’s membership procedure, governance structure, and how the boards of directors operate. Bourlard continued by describing the Bank’s financial system and resource mobilisation towards the transformation of the African continent.

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The Bank Group has considerable clout when it comes to securing resources at advantageous rates, in addition to its understanding of African markets and investment opportunities.

Minister Dendias also expressed interest in the Bank’s efforts to address climate change. “Climate change is one of the Bank’s top priorities,” said Simon Mizrahi, who detailed the Bank’s climate finance investments and the climate finance mechanisms it has put in place, including those with partners.

Bourlard made a presentation about the Bank’s flagship Desert to Power initiative, which aims to be the world’s largest photovoltaic energy production (10 GW of capacity) and supply system, benefiting 250 million people in the Sahel region. He said that the Bank has rolled out several climate resilience and adaptation programs, including activities in partnership with the Global Centre on Adaptation.

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