African Union Commission Deputy Chairperson H.E. Amb. Selma Malika Haddadi participated in an African Caucus Meeting with World Bank Group President Ajay Banga during the 2026 World Bank Group–IMF Annual Meetings in Bangkok, Thailand.
The high-level discussions focused on Africa’s key development priorities, including mobilising private capital, creating sustainable jobs for the continent’s growing youth population, and accelerating industrialisation, mineral beneficiation and local value addition.
The meeting brought together African policymakers and the World Bank leadership to discuss how to unlock greater investment across the continent. A central theme was the need to scale up investment and development financing, including through IDA22, to advance structural economic transformation and inclusive growth.
Participants also highlighted the importance of supporting Micro, Small and Medium Enterprises (MSMEs) and skills development as pathways to job creation for Africa’s youth. The discussions underscored the need for a coordinated approach to financing and development that reflects African priorities.
World Bank Group President Ajay Banga emphasised the importance of strengthening collaboration with and through the African Union, rather than pursuing fragmented initiatives across the continent. He highlighted the commitment of the World Bank Group and IMF leadership to a more coordinated and strategic approach to engagement with Africa.
Banga also acknowledged the strong commitment of the new African Union Commission leadership to strengthening cooperation with the World Bank Group, and the AU’s central role in advancing continental development priorities. The meeting reflects an ongoing effort to align global financing with Africa’s development agenda.
The meeting builds on a Memorandum of Understanding signed between the African Union and World Bank Group in 2024, which set out a strategic framework for cooperation. The framework is designed to guide collaborative efforts in specific areas and serve as the foundation for a renewed partnership.
For Africa, the discussions signal a continued push to secure greater investment and development financing on terms that support the continent’s transformation. The challenge now is to translate these high-level commitments into concrete outcomes that deliver jobs, industrialisation and inclusive growth.
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