Localized Multilateralism: Examining the African Development Bank

Abstract

Abstract: This paper critically examines post-crisis efforts by focusing on the African Development Bank's (AfDB) role in facilitating recovery and poverty reduction across the African continent. Case studies include the COVID-19 crisis, migration, and efforts to battle regional hunger. The analysis contrasts the approaches of the AfDB's strategies with that of the World Bank's Structural Adjustment Programs (SAPs), underscoring the former's unique successes and efficiencies in addressing the specific needs of the continent to reduce poverty. The analysis begins by contextualizing the historical and socio-economic landscape, highlighting African countries' distinct challenges with structural adjustment and debt, and then delves into a detailed assessment of the AfDB's initiatives. This paper suggests that the AfDB's customized strategies could be more effective for Africa's development agenda due to their alignment with the continent's varied cultural, political, and economic landscapes. This approach, prioritizing contextual relevance over a sole focus on economic growth, is argued to be more conducive to addressing Africa's unique developmental challenges.