Akinwumi Adesina was on Thursday re-elected President of the African Development Bank for the second term of five years.
This comes at the end of a long battle for Nigeria’s former Minister of Agriculture, who was first elected to the post in 2015.
The election was done electronically at AfDB’s virtual annual general meeting that started Wednesday.
At the start of the meeting, Adesina made a case for his re-election as head of the institution, saying that he wanted to fulfill “his sense of duty and commitment,” the bank said in a statement.
It said Adesina recalled that his current five-year term as head of the African Development Bank Group was marked by the implementation of five strategic priorities for the continent’s development, known as the “High 5s.”
“Five years ago, right here in Abidjan, you elected me president of the African Development Bank. It was a huge responsibility to shoulder. I promised that I would work tirelessly to accelerate Africa’s development. My vision, focused on the High 5 priorities, was my commitment, my promise, my compass,” Adesina said during a virtual session at the start of the Bank’s 2020 Annual Meetings.
“Time has passed so quickly,” he noted, citing the Bank’s achievements in the five years of his presidency: 18 million additional people now have access to electricity, 141 million people have received more advanced agricultural technology to improve food security, 15 million people have access to financing, 101 million now have access to improved transport, and 60 million people have gained access to water and sanitation.
With these positive results, Adesina asked the Board of Governors to renew their trust in him for the next five years.
“Dear Governors, these Annual Meetings are my opportunity to offer you my services and seek a second term as President of the African Development Bank. I do so with humility. I do so with an acute sense of duty and commitment. I do so to serve Africa and our Bank,” he stated.
“I do it to serve Africa and our bank, in an unbiased way, to the best of the abilities that God has given me,” he said, according to a statement issued by the bank.
Adesina was the sole contender for the post, but he faced hurdles following allegations of fraud leveled against him mainly by non-regional members of the bank.
Nigeria, the Africa Union, and powerful individuals stood by him. The AU adopted him as its only candidate for the post. The Nigerian government supported him.
Last July, President Muhammadu Buhari dispatched an envoy, Mustapha Chike-Obi, to lobby the American government, the linchpin of the apposition to Adesina’s re-election.
Also, former President Olusegun Obasanjo at a point mobilized as many as 14 former heads of state in support of Adesina’s election.
AfDB has recorded significant progress under Adesina in the last five years. Last October, the bank secured $115 billion (105 billion euros) in funding pledges, which doubled its capital and led to its triple-A credit rating.
According to the bank, the continent could lose as much as $173.1 billion in GDP in 2020 and $236.7 billion in 2021 due to the consequences of the COVID-19 crisis.
To mitigate the forecast impact of the pandemic, the bank has set up a coronavirus funding mechanism in April of up to $10 billion.
AfDB’s membership currently stands at 81, according to Adesina, with the admission of Ireland. Fifty-four shareholders are African, while the others are from the Americas, Asia, and Europe.