He added that “We share a common vision and values with the African Development Bank and look forward to boosting our impact across Africa.”
The move comes at a time when inadequate investments are hindering African oil and gas-producing countries to maximize the development and exploitation of hydrocarbon resources to address growing energy shortages and high fuel prices.
AfDB President Dr. Akinwumi Adesina, added that: “We are pleased to re-dynamize the partnership between the African Development Bank and the OPEC Fund for International Development. Our two institutions are focused on how to improve the lives of people and there is a very strong alignment between our approaches. The signing of this memorandum of understanding today will strengthen and deepen our cooperation even further.”
