AfDB: ECOWAS Endorses Adesina For Second Term

Economic Community of West African States (ECOWAS) has endorsed the second term bid of Dr Akinwumi Adesina as the President of African Development Bank (AfDB).

This was made known in a communique signed by the commission’s President, Jean-Claude Kassi at the end of the 56th ordinary session of the Authority of Heads of State and Government of ECOWAS, held in Abuja.

ECOWAS noted that the endorsement was in recognition of the sterling performance of Adesina during his first term of office as President of the bank.

The commission also commended Adesina for the AfDB’s involvement in the provision of technical and financial interventions to the West African region.

NAN reports that during the summit, Adesina announced that the bank’s portfolio investments in the ECOWAS region stood at 20 billion dollars.

Naija News reports that President Muhammadu Buhari had nominated the former Minister of Agriculture for a second term as the president of the AfDB.

Adesina revealed his nomination after receiving the Emeka Anyaoku lifetime achievement award presented to him by the Hallmark of Labour Foundation.

Naija News reports that the African Development Bank (AfDB)‘s election is scheduled to hold in 2020.

Adesina is the eighth elected President of the African Development Bank Group. He was elected to the five-year term on 28 May 2015 by the Bank’s Board of Governors at its Annual Meetings in Abidjan, Côte d’Ivoire, where the same electoral process will play out in 2020.

Adesina is a renowned development economist and the first Nigerian to serve as President of the Bank Group.