President Muhammadu Buhari has congratulated the President of African Development Bank (AfDB), Dr Akinwunmi Adesina, Board of Governors and members of staff on historic increase of its capital from $93 billion to $208 billion.
The development places the multilateral institution on a stronger pedestal to drive growth and development in Africa.
A statement to DAILY POST on Saturday signed by Femi Adesina, said that “President Buhari joins shareholders of the Bank and African Heads of State and governments in celebrating the feat, 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.
“The President felicitates 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 modernizing agriculture, encouraging industrialization, integrating Africa and improving the livelihoods of many.
“With the historic approval of $115 billion by the Board of Governors, which will buoy the Bank’s operations and reach, the President extols Dr 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.”