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The African Development Bank (AfDB) is widely praised these days as one of the premier financial institutions in Africa. The past decade saw it place much greater emphasis on infrastructure financing, a change brought about in part by the instincts of its former president Donald Kaberuka. He enjoyed two highly successful terms at the helm from 2005-2015, handing over the reins last September to Dr Akinwumi Adesina, Nigeria’s Minister for Agriculture and Rural Development (CGD played a role in the AfDB election process, with a high profile panel event for candidates in April).
In this week's podcast, Donald Kaberuka discusses how the AfDB’s success came about. "I think my biggest achievement – not me alone, but all of us at the bank – was to focus the institution," Kaberuka tells me, explaining in the clip below: "It was I think the first time when an organization of this size was able to say, 'There are many things to be done, but this is what I'll do, and do it well.'"
The African Development Bank recently turned 50. In that time it's made more than 4,000 grants and loans, totaling more than $71 billion. So what might its next half-century look like? Bank President Dr. Akinwumi Adesina joins me on this week's podcast to share his vision for Africa's future.
Kaberuka is currently a Hauser Leader-in-Residence at the John F. Kennedy School of Government at Harvard University. At CGD he will be working on finance and development issues, including serving as a member of our High-Level Panel on Multilateral Banking, which will issue its report in the coming months.