The 5th extraordinary meeting of the Board of Governors of the African Development Bank (AfDB) was held on 30 and 31 October 2019 in Abidjan, in the presence of the Ivorian Head of State, Alassane Ouattara.
At the end of two days of work, the Board of Governors of the African Development Bank approved the 7th General Capital Increase of the AfDB (AGC VII) of 125%, which increases from 100 billion dollars (50.000 billion FCFA) to 225 billion dollars (112.500 billion FCFA).

In presiding over the opening ceremony of this extraordinary meeting, the President of the Republic of Côte d'Ivoire, Alassane Ouattara, asked the Governors of the AfDB to take "the right decision", that of the general capital increase of this pan-African banking institution: "Through the United Nations' 2030 Agenda for Sustainable Development and the African Union's Agenda 2063, African Governments are demonstrating their great ambitions for the economic and social development of our countries. By integrating the continent's priorities through the "High Five" agenda, the African Development Bank Group is proving to be a key strategic partner for African governments (...) One of the keys to the success of these legitimate ambitions lies in the capacity of African countries to mobilize sufficient financial resources and use them efficiently to achieve the structural transformation of our economies, and to create the conditions for sustainable and inclusive growth (...) Africa will not be able to achieve these goals without the financial support and technical assistant of bilateral and multilateral partners, including the African Development Bank Group.

In this regard, I would like to thank the African Development Bank and President Adesina for the Bank's significant support to the Ivorian Government's Social Program, through financial support totalling USD 487 million. Beyond Côte d'Ivoire, which has benefited from the Bank's multisectoral support to the tune of 1. 730 million Units of Account (UA) between 2011 and 2019, it is all african countries that the Institution has strongly supported. However, much remains to be done because, according to the AfDB's latest estimates, the annual financing gap for the continent's infrastructure needs is between $68 billion and $108 billion. That is why the success of this important meeting will enable the African Development Bank to increase its capital, improve its prudential ratios and maintain its triple-A rating."