Ken Ofori-Atta, Finance Minister
• Mr Ofori-Atta has said it is imperative to find solutions to the risk the pandemic has brought to the African Continent
• He said the COVID-19 pandemic will slow down the continent’s full and timely recovery process if mechanisms are not put in place
• The aim of the AfDB meeting is to provide a platform for the Bank’s governors to share their experience in addressing the pandemic
Ken Ofori-Atta, Finance Minister has urged the African Development Bank (AfDB) to take the lead in addressing key challenges the continent is facing to ensure a successful socio-economic recovery from the Coronavirus pandemic which struck the world in 2020.
Speaking at the 2021 Annual Meetings of the African Development Bank Group, which was held virtually, Mr Ofori-Atta said it is imperative to find solutions to the risk the pandemic has brought to the African Continent.
He said failure to address risks such as reduced capital inflows into Africa and lasting economic damage from the COVID-19 pandemic will slow down the continent’s full and timely recovery process.
“As we advance, building back, greener and better, we would require the AfDB to show leadership to address 3 critical categories of risks, namely the risk of greater pandemic resurgence which will affect African countries disproportionately. The risk of reduced capital inflows because of the perceived economic effects of the pandemic’s resurgence. The risk of lasting economic damage from the pandemic exacerbating poverty and inequality within African countries,” he said.
The theme for this year’s Annual Meetings of the African Development Bank Group is, “Building Resilient Economies in Post Covid-19 Africa.”
It is aimed at providing a platform for the Bank’s governors to share their experience in addressing the pandemic and the policy measures they are employing to rebuild economies and livelihoods.