Akinwumi Adesina has been re-elected as the President of the African Development Bank (AfDB) after emerging victorious in an election which took place electronically on Thursday at the virtual annual general meeting of the bank. Adesina who will spend another five years managing and supervising the affairs of the bank was the sole candidate of the election. Ever since his first tenure, the number of shareholders AfDB rose to 81, consisting of 54 Africans, and others are from the Americas, Asia and Europe.
The 56-year-old bank under the stewardship of Adesina was able to set up a coronavirus funding mechanism worth $10 billion in April so as to prevent the continent from plunging into a colossal loss of $173.1 billion in GDP in 2020 and $236.7 billion in 2021.
Adesina, the son of a farming family, became president in 2015, the first Nigerian to head the bank.
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