The African Development Bank welcomed Andrew Smith, Director General for the Pan-African Bureau at Global Affairs Canada, to Côte d’Ivoire on Friday, 7 February. This marked a significant step forward in the partnership between Canada and the African Development Bank Group.
The day began with a field visit by a joint delegation led by Andrew Smith on the Canadian side and Edmond Wega, African Development Bank’s Deputy Director General and Country Manager for Côte d’Ivoire
to projects financed by the Bank Group in Tiassalé — an agriculture and tourism hub in the southern part of the country. The delegation saw how Bank initiatives are transforming local agricultural production at the Espace Cacao Boh project and the semi-industrial cassava processing unit in N’Douci. This women’s cooperative of 17 women, led by Madame Coulibaly Sanata, demonstrated the successful integration of women’s economic empowerment into agricultural development.
“Seeing these projects in action reinforces our commitment to working with the African Development Bank. The impact on local communities is remarkable,” Smith said.
His visit is particularly significant as Canada assumes the G7 Presidency and implements its newly announced Africa Strategy. Unveiled in November 2024, the strategy demonstrates Canada’s strengthened commitment to the continent through a comprehensive CAD 176.6 million investment package focused on climate initiatives, youth empowerment, and women’s economic development.
Beyond financial commitment, the strategy encompasses the creation of an African Trade Hub and the establishment of new diplomatic missions in Benin and Zambia. Canada has also appointed special envoys for Africa and the Sahel and committed CAD 54.4 million to address peace and security challenges in the region.
Following the field visit, the delegation proceeded to the African Development Bank Group’s headquarters in Abidjan. Discussions centered on expanding cooperation through innovative financing mechanisms. The partners explored the establishment of the African Competitiveness Trust Fund as a successor to the Africa Trade Fund, aiming to support the implementation of the African Continental Free Trade Agreement.
The talks also touched on new financing approaches, including Special Drawing Rights-SDR rechanneling initiatives and hybrid capital offerings, and on the planned second phase of the Canada-African Development Bank Climate Fund (CACF II), which will build on the success of the initial Fund.
“This partnership exemplifies the collaborative approach needed for Africa’s development. Canada’s commitment aligns perfectly with our Ten-Year Strategy,” said Marie Laure Akin-Olugbade, Senior Vice President of the African Development Bank.
Canada’s relationship with the Bank dates back to 1983; since then, the country has grown to become the 8th largest shareholder overall and the 4th largest among non-regional members. This partnership has yielded significant results through support for key initiatives, including the Africa Disaster Risk Financing Programme, the African Guarantee Fund, and various climate finance initiatives. As the seventh-largest donor to the African Development Fund, the concessional window of the Bank Group, Canada continues to demonstrate its commitment to supporting Africa’s most vulnerable economies.
As the partnership between Canada and the African Development Bank enters this new phase, both partners are poised to achieve greater impact in climate resilience, trade integration, and sustainable development throughout Africa. The combination of Canada’s G7 Presidency, its new Africa Strategy, and the African Development Bank’s Ten-Year Strategy creates a strong foundation for advancing shared development goals across the continent.
Source African Development Bank Group
