The African Development Bank's 2023 Annual Meetings were held in Sharm El-Sheikh, Egypt in May. Africa is poised to experience the second fastest growing economy in the world, after Asia.
The report forecasts Africa's GDP growth of 4.3 percent in 2024, up from 3.8 percent in 2022. Once fully implemented, the Bank Group could provide up to $27 billion to help low-income and fragile states through the African Development Fund. The Bank has pledged to mobilize $25 billion by 2025 to pave the way for a greener and more prosperous Africa.