The African Union executive council has supported Dr Akinwumi Adesina’s candidacy for a second term African Development Bank, AfDB president
The decision was taken during the 36th ordinary session of the AU Executive Council, held during the AU Summit in Addis Ababa, Ethiopia, from February 6 to February 7, the AfDB indicated in a statement on Tuesday.
The bank noted that Adesina was elected to his first term as AfDB president by its board of governors at its annual meetings in Abidjan on May 28, 2015, adding that he is the eighth president of the AfDB group and the first Nigerian in the post.
During Adesina’s first term as AfDB president, the bank’s shareholders approved a landmark $108bn capital increase in late October, the statement noted, adding that the increase in the capital base, from $93bn to $208bn, signaled strong support from the board of governors in the continent’s foremost financial institution.
The statement read in part, “Adesina is a renowned development economist who 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.
“The African Union Executive Council comprises 55 ministers of foreign affairs, representing the member states of the African Union.”
According to AfDB, the Economic Community of West African States had in December 2019, endorsed Adesina as AfDB president for a second term.
It added that the election will take place at the bank’s annual meeting in May in Abidjan.