AfDB and European Stability Mechanism Sign MoU to Strengthen Cooperation
The African Development Bank Group and the European Stability Mechanism have signed a Memorandum of Understanding (MoU) aimed at enhancing cooperation between the two institutions.
The agreement was signed on 15 April 2026 on the sidelines of the 2026 Spring Meetings of the International Monetary Fund and the World Bank Group held in Washington, D.C..
The MoU seeks to formalise collaboration in key areas including capacity building, knowledge sharing and research. It will also promote technical dialogue, information exchange, joint seminars and staff-level engagements, subject to the internal procedures of both institutions.
Speaking at the signing, Pierre Gramegna emphasised the importance of cooperation in an increasingly uncertain global environment.
“In a world that has become more prone to frequent shocks, preparedness through cooperation is essential,” he said, noting that the agreement provides a structured framework for deepening dialogue and sharing expertise in areas such as market funding, governance, and crisis prevention and management.
Meanwhile, Sidi Ould Tah described the MoU as a reflection of the Bank’s commitment to mutually beneficial partnerships.
He said formalising cooperation with the ESM would strengthen the Bank’s ability to draw on international best practices, particularly in efforts to establish an African Financial Stability Mechanism.
Mr Tah noted that Africa remains the only region without a dedicated regional financial stability mechanism, adding that the partnership would play a critical role in safeguarding financial stability across the continent.
