US EditionAfrican Development Bank to pick new head to confront US funding cuts
- During its annual meeting in Abidjan, Ivory Coast, on May 29, the board of governors chose Mauritania's economist Sidi Ould Tah to serve as the new president of the African Development Bank.
- The election followed competitive ballots, driven by urgent challenges from reduced US and European funding and a shared aim to shift Africa toward economic self-reliance.
- Since 2015, Tah has been at the helm of the Arab financial institution focused on Africa’s development, and he will take over from Akinwumi Adesina on September 1, commencing a five-year term amid significant economic challenges.
- Tah won with 76.18% of votes from the bank's 81 member countries' governors; experts call for bold reforms to make the AfDB a stronger engine of continental unity.
- Tah's leadership signals an opportunity for the AfDB to mobilize Africa's financial capital, prioritize cross-border projects, and reduce dependence on foreign aid for sustainable growth.
26 Articles
26 Articles
Cote d'Ivoire: Election of Adesina's Successor Tops Agenda As AfDB Delegates Meet in Abidjan
Participants include African heads of state and governments, finance ministers, central bank governors, private sector leaders, development partners, and civil society representatives.
African Development Bank to pick new head to confront US funding cuts
The African Development Bank is meeting in Ivory Coast this week to pick a new president at a time when the continent's biggest multilateral lender faces unprecedented challenges from funding cuts by the U.S. government.
Election of Adesina’s successor tops agenda as AfDB delegates meet in Abidjan
Participants include African heads of state and governments, finance ministers, central bank governors, private sector leaders, development partners, and civil society representatives. The post Election of Adesina’s successor tops agenda as AfDB delegates meet in Abidjan appeared first on Premium Times Nigeria.
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