Dr Adesina re-elected as AfDB president

28 Aug, 2020 - 13:08 0 Views
Dr Adesina re-elected as AfDB president Dr Akinwumi  Adesina

The Sunday Mail

Sunday Mail Reporter

Dr Akinwumi  Adesina was Thursday re-elected by the board of governors of the African Development Bank (AfDB) to serve a second five-year term as president of the Pan-African lender.

A renowned development economist as former Nigerian Minister of Agriculture, Dr Adesina will begin his new term on September 1 2020.

He was first elected on May 28 2015.

The election took place on the final day of the 2020 Annual Meetings of the African Development Bank Group, which were held virtually for the first time in the bank’s history.

The election result, which gave him a 100 percent of votes of all regional and non-regional members of the bank, was announced by the chairperson of the board of governors, Mrs Niale Kaba, Minister of National Planning of Côte d’Ivoire (Ivory Coast).

The World Food Prize Laureate and Sunhak Peace Prize Laureate has distinguished himself in driving a bold agenda to reform the bank and accelerate Africa’s development.

After his new mandate, Dr Adesina said: “I am deeply grateful for the collective trust, strong confidence and support of our shareholders for electing me for a second term as president. It is yet another call for selfless service to Africa and the African Development Bank, to which I will passionately devote myself.

“The future beckons us for a more developed Africa and a much stronger and resilient African Development Bank Group. We will build on the strong foundations of success in the past five years, while further strengthening the institution, for greater effectiveness and impacts.”

The African Development Bank is Africa’s premier development finance institution, comprising 54 regional and 27 non-regional member countries.

Under Dr Adesina’s leadership, the AfDB approved a US$10 billion facility to support African countries to address the Covid-19 pandemic.

The bank also launched a US$3 billion Covid-19 social bond on the global capital markets, the highest US-dollar denominated social bond ever in world history. The Bank is listed on the London Stock Exchange, Luxembourg Stock Exchange and Nasdaq. –APO/Sunday Mail Reporter

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