Akinwunmi re-elected  AfDB president for 2nd term

Akinwunmi re-elected  AfDB president for 2nd term

Akinwunmi re-elected  AfDB president for 2nd term 

By our correspondent 

Dr Akinwunmi Adesina has emerged president African Development Bank (AfDB)  for a second term, Sun News reports.

His re-election was endorsed during the 36th  Ordinary Session of the African  Union (AU)  Executive Council, held during the AU Summit in Addis Ababa, Ethiopia from February 6 and 7,  2020.
A statement signed by Olufemi Terry of the Communication and External Relations Department of the bank disclosed that Adesina was elected in  his first term as president by the Bank’s Board of Governors at its annual meetings in Abidjan on  May 28,  2015.
According to him, Adesina is the eighth president of the African Development Bank Group and the first Nigerian to hold the position.
During his first term the bank’s shareholders approved a landmark $108 billion capital increase in late October, the statement added.
The increase in the capital base, from $93 billion to $208 billion, signalled a strong support from the Board of Governors in the continent’s foremost financial institution.
Adesina, the statement disclosed, is a renowned development economist who has held a number of high-profile international positions, including an assignment with the Rockefeller Foundation, and as Nigeria’s Minister of Agriculture and Rural Development from 2011 to 2015.

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