For the first time in the history of the African Development Bank, a candidate by the name of Dr. Akinwumi Adesina has emerged with 100% votes and has today been sworn in as the 8th president.
As part of his inaugural speech, Akinwumi Adesina said,
“Four days ago, on August 27, 2020, I was re-elected as President of the African Development Bank Group. I wish to thank you all for your incredible support and for the mark of confidence you all collectively placed in me. You elected me with 100% of all the votes of regional and non-regional shareholders of the Bank — without any exception. This is unparalleled in the Bank’s 56-year history. And for this, I am exceedingly grateful.”
You may want to recall that the United States of America had opposed Adesina’s reelection, alleging financial corruption and other charges. But upon investigation, Adesina was cleared of all the charges which still didn’t go well with the US.
Speaking at the swearing-in ceremony, Adesina said:
“Over the past five years, the Bank has delivered impressive results on this High 5s:
“18 million people with access to electricity, 141 million people had access to improved agricultural technologies for food security, 15 million people with access to finance from private investments, 101 million people with access to improved transport from infrastructure, 60 million people with access to water and sanitation.
“We’ve achieved impressive results. The Bank’s High5 programmes have impacted 335 million people. That’s what the African Development Bank – your Bank – is all about … ‘people impact’.”
Speaking further on the achievements of the bank, the reelected African Bank boss said,
“You the shareholders supported the historic General Capital Increase of the Bank, raising the capital of the Bank from $93 billion to $208 billion. This represents an increase of $115 billion, the highest in the history of the Bank.
“As shareholders, you strongly supported a 32% increase in resources for the African Development Fund (ADF) 15th replenishment, to support low-income countries and fragile states. Today, the ADF countries receive 700% larger resources than they did in 2015.
“We’ve delivered value for money for our shareholders. The Bank has the lowest cost of all multilateral development banks.
“The African Development Fund has also been rated as the 2nd best managed concessional financing institution globally.
“Over the past five years, we have maintained our AAA rating by all three major rating agencies — thanks to your continued extraordinary support as shareholders.
“The Multilateral Organization Performance Assessment Network, otherwise known as MOPAN, ranked the African Development Bank as number one along with the World Bank.
“Publish What You Fund ranked the Bank as the fourth most transparent globally.
“In terms of organizations that people wish to work for in Africa, the Bank’s position as an employer of choice increased from number 82 out of 100 top companies in 2015, to number 4 in 2018 and number 3 in 2019.”
Nigerian NewsNow felicitates with Akinwumi Adesina. Kindly drop your comments below