Adesina, global player of impeccable character ― First US AfDB Executive Director

The first United States Executive Director of African Development Bank (AfDB), Ambassador Harold H. Doley, JR, has described President of the bank, Akinwumi Adesina as a global player of impeccable character that deserves the support of United States of America.

In an OP-ed letter to US Secretary of the Treasury, Steven Mnuchin dated May 29, Doley said, “t is an acknowledged fact that Akinwumi Adesina is a global player of impeccable character who has helped mobilize billions of dollars into Africa and helped accelerate the continent’s development.

“It is why the executive committee of the Africa Union, speaking for 55 African countries, unanimously endorsed him as the sole candidate for re-election to a second term.

“This is vital for Africa’s continued economic growth, infrastructure and investment.

“It is traditional at multilateral development institutions that sole candidates be reelected by acclamation.

“Therefore, Mr Secretary, the people of America implore you to use your good offices to continue to support Africa, the African Development Bank and President Adesina in his bid for re-election; and that you walk in lockstep with African Governors and Finance Ministers.”

He recalled becoming a full shareholder in the AfDB in 1983 the US has played a leadership role as the Bank’s largest non-regional (non-African) shareholder, and the second-largest overall.

“Since taking office in 2015, the current and 8th President of the Bank, the US trained and globally renowned Akinwumi Adesina, rapidly restructured the bank and refined its focus through a High 5 strategy that has directly impacted the lives of millions of Africans.

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“This has been through strategic investments in energy and electricity, agriculture technologies that significantly improve food security, access to private sector finance, improved transport infrastructure, and water and sanitation.

“In 2019, with US support, the African Development Bank’s shareholders approved a General Capital Increase of $115 billion, the largest in the Bank’s 56-year history.

“The increase more than doubled capital from $93 billion to $208 billion. Also, in 2019, the Bank’s concessional window, the African Development Fund (ADF), received a 35% replenishment with donor contributions.

“US shares of $499,695,200 represent 7.81% of total subscriptions are a critically needed resource for Low-Income Countries (LICs) and transition States.

“Ultimately, supporting Africa’s private sector is critical for social and economic development.”

In 2018, Adesina led an unprecedented effort to attract global investments into Africa through the inaugural Africa Investment Forum, which mobilized $78.8 billion in investment interests between 2018 and 2019.

Doley explained that although there have been concerns in some circles about China’s role in Africa, American enterprise thrives on competition and is poised to play a more influential economic role in the years ahead.

“Recognizing America’s pivotal role at the AfDB and other multilateral development banks is crucial for the global economy.”

He noted that in conformity with the governance rules and procedures of the Board’s Ethics Committee, the Bank cleared Adesina of wrongdoing stemming from several allegations levelled against, which was a boost for the bank and the continent.

He, therefore, urged the United States to support the unanimous decision of all 55 African Heads of States and government to support Adesina for a second term.

“It is traditional at multilateral development institutions that sole candidates be reelected by acclamation.

“Therefore, Mr Secretary, the people of America implore you to use your good offices to continue to support Africa, the African Development Bank and President Adesina in his bid for re-election; and that you walk in lockstep with African Governors and Finance Ministers.”

NIGERIAN TRIBUNE