AfDB to scale up support for LCB through innovative financing development projects
The African Development Bank (AfDB) has reaffirmed its commitment to supporting development and stability in the Lake Chad region through territorial action plans, innovative financing mechanisms, and cross border projects.
AfDB President Dr Akinwumi Adesina, represented by Dr Yaro Balde, Director of AfDB’s Transition States Coordination Office, made this known on Thursday during a panelist sessions at the 5th Lake Chad Governors’ Forum in Maiduguri.
According to Adesina, the bank has been actively supporting the Lake Chad Basin Commission by aligning its interventions with the region’s needs.
He emphasised the importance of government leadership and community ownership in ensuring sustainable solutions for resilience and peace.
Adesina highlighted AfDB’s efforts in supporting the territorial action plans (TAPs) in Chad and Niger, noting that these plans serve as a foundation for projects that integrate social services, economic empowerment, and infrastructure development.
“The leadership of governments is crucial, but more importantly, these plans must be owned by the communities. Solutions must be tailored to the real needs of people, including internally displaced persons (IDPs), refugees, women, and children,” he said.
Adesina stressed the need for inclusive planning, engagement with civil society organisations and traditional leaders, and the adoption of integrated, holistic solutions that address the complex, evolving crises in the region.
He said that AfDB had integrated humanitarian, development, and peace-building elements into its core infrastructure projects, ensuring that investments not only provide roads and public works but also create jobs and improve access to basic services.
“For example, when we finance road projects, it’s not just about infrastructure it’s about creating socio-economic development opportunities for the communities along those roads,” he said.
Adesina also called for stronger cross-border collaboration in development initiatives, stating that many territorial action plans lack sufficient cross-border considerations.
“In our second strategy phase, we must increase cross border interventions, as security and economic activities are deeply interconnected across national borders,” he said.
“Recognising the link between security and development, Adesina said the AfDB had been mandated by the African Union to design new financing mechanisms to address security challenges on the continent.
He said that the Lake Chad region was a strategic asset that require urgent investment to restore its ecological and economic potential while ensuring security.
“AfDB pledged to continue mobilising resources for territorial action plans and scaling up its development interventions to foster lasting peace and economic resilience in the region,”he said.
