AU Executive Council Endorses AfDB President for Second Term

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Addis Ababa, February 25/2020 Adesina 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, how became eighth President of the African Development Bank Group.

He 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.

During his first term, the Bank’s shareholders approved a landmark 108 billion USD capital increase in late October.

The increase in the capital base, from 93 billion USD to 208 billion USD, signaled strong support from the Board of Governors in the continent’s foremost financial institution.