Nigeria, May 28 -- For more than six decades, the African Development Bank (AfDB) has stood as a steadfast engine of progress on our continent - a beacon of hope and transformation in a land of immense potential but with deep-rooted challenges. Yet, even as we celebrate the Bank's achievements, we face an era of rapid global change. Successive crises have considerably weakened government finances. New challenges have emerged, ranging from shifting demographic trends and disruptive technologies to volatile worldwide finance and the existential threat of climate change. It is in this context that all institutions must evolve.

Established in 1964 by the Organisation of African Unity and having celebrated its 60th anniversary in 2024, the Af...