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AU endorses Nigeria’s Akinwumi Adesina as AfDB President for second term

AU endorses Nigeria’s Akinwumi Adesina as AfDB President for second term

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The African Union has endorsed Dr. Akinwumi Adesina’s candidacy for a second term as President of the African Development Bank.

The decision was taken during the thirty-sixth Ordinary Session of the AU Executive Council, held during the AU Summit in Addis Ababa, Ethiopia, 6-7 February 2020.

Adesina, a renowned development economist, has held a number of high-profile international positions, including with the Rockefeller Foundation, and as Nigeria’s Minister of Agriculture and Rural Development from 2011 to 2015.

President of the African Development Bank (AfDB) Dr. Akinwumi Adesina

President of the African Development Bank (AfDB) Dr. Akinwumi Adesina

He was elected to his first term as President by the Bank’s Board of Governors at its Annual Meetings in Abidjan on 28 May 2015. He is the eighth President of the African Development Bank Group and the first Nigerian in the post.

During his first term, the Bank’s shareholders approved a landmark $115 billion capital increase in late October. The increase in the capital base, from $93 billion to $208 billion, signaled strong support from the Board of Governors in the continent’s foremost financial institution.

President Buhari alongside President Idris Deby of Chad, President Mahamadou Issoufou of Niger, Chairperson of AU Commission Moussa Faki Mahamat and President of AfDB Akinwunmi Adesina during the Program of ASWAN Forum on Peace and Sustainable Development in Africa on 11th Dec 2019

President Buhari alongside President Idris Deby of Chad, President Mahamadou Issoufou of Niger, Chairperson of AU Commission Moussa Faki Mahamat and President of AfDB Akinwunmi Adesina during the Program of ASWAN Forum on Peace and Sustainable Development in Africa on 11th Dec 2019 Facebook/Femi Adesina

The African Union Executive Council comprises 55 ministers of foreign affairs representing the member states of the African Union.

In December 2019, the Economic Community of West African States (ECOWAS) also endorsed Adesina for a second term as Bank chief. The election will again take place at the Bank’s Annual Meetings in May in Abidjan.


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