The 2020 election of the Africa Development Bank (AfDB) is expected to begin this Thursday, during which its president and sole candidate for the President of the bank, Akinwumi Adesina is expected to be re-elected this week.
Nigeria recently boosted its voting rights in the African Multilateral Institution to 16.8 per cent ahead of this week’s election, a move that stakeholders said raised Adesina’s chances at getting a second term. Adesina was recently cleared of all allegations of abuse of office and corruption by the independent panel that was set up by the multilateral institution.
In a video broadcast at the bank’s ongoing 2020 virtual Annual General Meeting (AGM) of the AfDB Group, Adesina said the event will provide a forum to discuss ways to help Africa’s economic recovery. According to him, it will also provide an avenue to come up with post COVID-19 strategies. He said the meeting would also offer opportunity for shareholders and stakeholders to dialogue, provide insights, perspectives and recommendations for the progress of Africa as well as the bank.
“We may not be in the same physical location, we are together in our commitment to Africa, we are together in our determination to help Africa build back its economy from the devastating effect of COVID-19. We are together to support and strengthen the AfDB and your collective support is what will keep us going,” he said.
Adesina said this year was the first time in the history of the bank to hold its AGM virtually due to the unprecedented effect of the COVID-19 pandemic. He said that the decision to do so was to ensure the safety, well being and health of everyone.
“It is an extraordinary time, never before has the limit of science being so tested, the span of our physical capacity stretched to unimaginable limit and economic gains we have made over the decades lost in the wake of a global pandemic that affected economy, people and institutions.
“Never in our society and the economy with highly vulnerable population, especially women, youth and children have we faced challenges of such proportions that have plunged hundreds of millions into poverty all at the same time everywhere across the globe. No nation has been spared. The death toll is disheartening. Our collective humanity is at risk and the interconnectedness of our share losses is deeply felt every single day. The effects are deep and they will be prolonged.
“It will take massive and sustained effort to help countries, especially African countries to recover from the impact of the pandemic,” he explained. The president noted that the AGM provided opportunities to watch with pride and admiration how the bank’s shareholders worked with passion and collective commitment to advance the mission of AfDB.
Adesina, however, expressed appreciation to the bank’s board of directors for approving the COVID-19 Crisis Response Facilities to support regional member countries.
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