H.E. Mahmoud Ali Youssouf, the Chairperson of the African Union Commission, held a productive meeting with H.E. Dr. Sidi Ould Tah, the President of the African Development Bank (AfDB), during the 39th AU Summit. This meeting underscored the importance of financial support to key sectors in Africa, especially as the AfDB recently announced a significant $11 billion replenishment of the African Development Fund. Youssouf acknowledged the bank's continued commitment to addressing Africa's most pressing challenges, including debt management, climate change, and security threats.

During their discussion, the two leaders recognized that financing remains a central challenge for the continent, citing the need to mobilize $1 trillion in African capital. They deliberated on strengthening project preparation processes and developing an African credit rating agency to enhance financial stability and coherence in the continent's financial systems. The leaders emphasized the urgent need for effective collaboration to navigate these challenges and foster sustainable economic growth in Africa.

To reinforce the partnership between the AU and the AfDB, they agreed to hold biannual meetings and establish a high-level dialogue focused specifically on financing for Africa. This agreement represents a commitment to not only revitalizing but also effectively implementing strategies aimed at creating a more robust financial architecture across the continent, which is essential for long-term development and resilience against external shocks.