By A. Kapini
The Executive Council of the African Union (AU) has supported Dr. Akinwumi Adesina’s candidacy for a second term as President of the African Development Bank Group (AfDB).
The AU’s decision was taken during the 36th Ordinary Session of the Executive Council which was held during the AU Summit in Addis Ababa, Ethiopia, on 6-7 February.
Dr. Adesina was elected to his first term as President by the AfDB’s Board of Governors at its Annual Meetings in Abidjan, Cote d’Ivoire, on 28 May, 2015. He is the eighth President of the AfDB Group and the first Nigerian in the post.
During his first term, the Bank’s shareholders approved a landmark $115 billion capital increase in last 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.
Adesina is a renowned development economist who has held a number of high-profile international positions, including working with the Rockefeller Foundation, and as Nigeria’s Minister for Agriculture and Rural Development from 2011 to 2015.
The Executive Council comprises 55 Ministers of Foreign Affairs who represent the member states of the AU.
In December 2019, the Economic Community of West African States (ECOWAS) also endorsed Adesina for a second term as AfDB chief. The election will again take place at the Bank’s Annual Meetings in May 2020 in Abidjan.
