Following the 56th Annual Meeting of the African Development Bank (AfDB) and the 47th meeting of the Board of Governors of the African Development Fund, the Chairman of the Group, Dr. Akinwumi A. Adesina, proposed the creation of an African stability mechanism based on the European model.

According to the press release that sanctioned the work, the bank should strengthen its support to African countries in dealing with the economic and health impacts of the pandemic. To this end, President Adesina affirmed that the African Development Bank would invest massively in the pharmaceutical industry to manufacture vaccines on the continent. The President of the African Development Bank promised to strengthen health systems, noting that only 51% of public health facilities had water and basic sanitation facilities, and 31% had electricity. Note that the 2021 Annual Meetings were held virtually, were marked by closed meetings of the bank's governors and public discussions on issues related to health care in Africa, African debt sustainability, and climate change.