Juliana Taiwo-Obalonye, Abuja
President Muhammadu Buhari, has commended African Development Bank (AfDB), for increasing its share capital from $93 billion to $208 billion to drive growth and development on the continent.
According to him, it clearly demonstrates the quality of leadership and the technical expertise at the of the bank’s affairs which has been steadily pushing reforms for a smart and nimble institution focused on alleviating poverty.
According to a statement by Special Adviser to the President, Media and Publicity, Femi Adesina, Buharicongratulated the President of AfDB, Dr Akinwunmi Adesina, Board of Governors and members of staff on the historic increase of its capital saying it will facilitate the continent’s development.
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 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, President Buhari extolled Adesina for brilliantly and diligently taking AfDB to new heights of achievements, and inspiring confidence that indeed, the Sustainable Development Goals (SDGs) and the African Union Agenda 2063 are realisable.