The Economic Community of West African States (ECOWAS) has endorsed the candidacy of Dr Akinwumi Adesina, the President of African Development Bank (AfDB), for a second term.
The decision was announced in a communique signed by the commission’s President, Jean-Claude Kassi at the end of the 56th ordinary session of the Authority of Heads of State and Government of ECOWAS, held in Abuja.
ECOWAS said the development was in recognition of the sterling performance of Akinwumi Adesina during his first term of office as President of the bank.
The commission further stated that the authority had endorsed the president of AfDB’s candidacy for a second term as the president of the bank.
Adesina is the eighth elected President of the African Development Bank Group. He was elected to the five-year term on 28 May 2015 by the Bank’s Board of Governors at its Annual Meetings in Abidjan, Côte d’Ivoire, where the same electoral process will play out in 2020.
Adesina is a renowned development economist and the first Nigerian to serve as President of the Bank Group.
He has served in a number of high-profile positions internationally, including that of Rockefeller Foundation, as well as Nigeria’s Minister of Agriculture and Rural Development from 2011 to 2015.
The commission commended Adesina for the bank’s involvement in the provision of technical and financial interventions to west African region.
It also lauded the president for the implementation of numerous projects and programmes across the region.
News Agency of Nigeria (NAN) reports that during the summit, Adesina announced that AfDB’s portfolio investments in ECOWAS region stood at 20 billion dollars.