Buhari applauds Adesina over AfDB’s capital increase

President Muhammadu Buhari has noted that the historic increase of the capital of Africa Development Bank (AfDB) from $93 billion to $208 billion, placing the multilateral institution on a stronger pedestal to drive growth and development on the continent is a vote of confidence on the leadership of its president, Dr. Akinwunmi Adesina.

In a statement issued in Abuja on Sunday by Femi Adesina, Special Adviser to the President (Media & Publicity), Buhari congratulated Adesina, Board of Governors and members of staff of the AfDB for the achievement.

The president Buhari joined shareholders of the Bank and African Heads of State and governments in celebrating the feat, which he said which “clearly demonstrates the quality of leadership at the helm of affairs, and the technical expertise that has been steadily pushing reforms for a smart and nimble institution focused on alleviating poverty.”

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The president felicitated with the leadership of the bank for numerous reforms undertaken to reposition the institution for current global realities and the peculiar needs of the African continent, commending the visionary policies that have started yielding results in providing electricity, financing and modernising agriculture, encouraging industrialisation, integrating Africa and improving the livelihoods of many.

The statement added that with the historic approval of $115 billion by the Board of Governors, which will buoy the Bank’s operations and reach, the president extolled Adesina for “brilliantly and diligently taking the AfDB to new heights of achievements, and inspiring confidence that, indeed, the Sustainable Development Goals (SDGs) and the African Union Agenda 2063 are realisable.”

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