Roundup: African leaders hail AfDB's plan to accelerate development

African leaders on Tuesday hailed the African Development Bank (AfDB) for coming up with five priority areas for accelerating Africa's development and assured the bank of the leaders' support.

The bank has come up with five areas of focus for Africa's transformation which includes Light up and power Africa, Integrate Africa, Feed Africa, industrialize Africa and improve the quality of life for the people of Africa.

The five priority areas, which have been termed "High-Fives", are in line with the bank's 10-year strategy and serve as a blueprint for African countries to embark on a course of sustainable transformation.

Chad President Idriss Deby Itno, who is the Chairperson of the African Union (AU), said the bank's ambitious strategy for Africa's growth was welcome as it will support the continent's economic growth.

"We have been talking and talking but it is time we stopped talking and started working," he said in remarks delivered at the official opening of the bank's 2016 annual meetings in Lusaka, the Zambian capital.

He said African leaders will count on the bank to ensure that all the commitments were translated into concrete results for the benefit of the people in Africa.

Africa, he said, has as myriad of problems which require concerted efforts to overcome, adding that the bank's decision to come up with priority areas of focus will no doubt spur economic development.

Zambian President Edgar Lungu said during the same occasion that it was encouraging that the bank has come up with good plans to respond to various challenges conflicting Africa such as energy crisis and climate change.

"The bank's vision for Africa, postured through the "High Fives", that cover areas of integration, industrialization, powering Africa, feed Africa, and improving the quality of lives have renewed our hope that the continent will overcome the current challenges," he said.

The Zambian leader expressed optimism that the implementation of programs in the targeted areas will result in Africa being resilient, self-sustaining and well-linked economically.

Our expectations are that these meetings will generate resolutions that will help Africa shape its post-2016 development agenda and address the numerous ramifications of energy deficits and climate change confronting the continent, he added.

The meetings are being held under the theme "Energy and Climate Change".

AfDB president Akinwumina AAdesina said it was hoped that the outcome of the meeting will spur Africa into another path of economic development.

"From these annual meetings in Zambia will go out thunders of jubilation for a new Africa, whose time has come. The bank has raised its level of aspiration for Africa. Africa must think big, act big and deliver big. We must never have low ambitions for Africa," he said.

He said the choice of the theme underscores the importance of energy to Africa's development and the need to tackle climate change which has adversely affected the African continent.

According to the bank's figures, access to energy services in Africa ranks among the lowest with over 645 million Africans not having access to electricity while 700 million have no access to clean cooking energy.

On the other hand, 600 million people die each year from indoor pollution due to their reliance on biomass for cooking.

According to him, Africa has a financing gap of 54 million U.S. dollars to solve the energy crisis on the continent annually.

He said it was unfortunate that African countries were currently dedicating only 0.3 percent of their Gross Domestic Product (GDP) towards the energy sector. Endit