The African Development Bank Institute has launched a new initiative to provide tailored solutions to Africa’s debt challenges. The initiative, launched in Addis Ababa, Ethiopia, aims to strengthen debt management capacity in African countries and promote the exchange of experiences among debt managers. The Director of the African Development Institute, Eric Ogunleye, highlighted the growing financing needs and rising debt vulnerability in African countries, which have worsened macroeconomic outcomes and hampered effective policy responses to shocks.
The initiative seeks to address these challenges and support inclusive growth. The network will provide a platform for debt managers to share experiences and best practices, and receive technical assistance and capacity building support. The launch was attended by debt managers from across Africa, who emphasized the need for home-grown solutions to address the continent’s debt challenges.
