Dr Adesina who stated this in an interview with BBC Africa, regretted that African countries pay up to four times higher for loans compared to other parts of the world because of unfair and just financial system, which he said must be changed.
The President of the African Development Bank (AfDB), Dr Akinwumi Adesina, has decried the imbalance in the global financial structure to accommodate Africa's interest.
Dr Adesina who stated this in an interview with BBC Africa, regretted that African countries pay up to four times higher for loans compared to other parts of the world because of unfair and just financial system, which he said must be changed.
Asked whether he thinks the West is listening to African countries' call for reforms in the global financial structure, AfDB boss said that they (Western countries) had no choice.
"They have no choice but to reform. The global financial architecture today is not serving the interests of Africa well enough. You have 22 countries today in Africa that are either at high risk of debt distress, or in debt distress.
"You take a look at most of the countries today, their currencies have depreciated against the dollar, and so which means that the cost of service in your debt has gone up significantly. First, take a look at what happened during the, to climate change..."
He added, "Kenya just went through a devastating era of floods. It's not just Kenya, it makes me sad. But how much does Africa get? Pretty much, very, very small. No country should have to deal with climate change by borrowing commercial money, no, they ought to be grants.'
Reminding him his recent speech where he expressed frustration at the biases that would see African countries pay up to $74 billion servicing debt, the interviewer asked what is standing on the way to shifting the biases?
Adesina noted that these biases are occasioned by the perception that Africa is risky to lend funds.
"People say Africa is risky. Well, don't just believe perception."
Asked what would he say to critics who say corruption and mismanagement of public funds in African countries are endemic, he said though it is not unique to Africa, he believed that it can be tackled by institutionalising transparency, good governance, and accountability.
"Corruption is not unique to Africa. Corruption is all over the world. Wherever you have human activity that people can profit from weak institutions and lack of compliance in many places, that happens. We must continue to have transparency, good governance, and accountability."
On the place of young people in driving Africa's economic transformation, AfDB President opined that the continent belongs to the young people, adding that the Continent has 477 million people that are below the age of 35.
"Well, the continent belongs to them. We should give it to them, we should plan with them in mind. We have 477 million people below the age of 35 on this continent. It's time that they ran things. Perhaps I have not seen a young person who does not want to succeed.
"But when they go to commercial banks, they have good ideas, when you see a young person. What do they see? Risk, risk, risk. They don't see ideas, they don't see creativity, they don't see entrepreneurship. So we are trying to change all of that," he stated.