Cyril Ramaphosa, President of South Africa and Chairman-in-Office of the African Union, Ellen Johnson Sirleaf, Nobel Peace Laureate and former President of Liberia, paid tribute to Akinwumi Adesina, President of the African Bank of Development , for his thought leadership and courageous initiatives taken to accelerate Africa's development and support the continent during the COVID-19 crisis.

President Ramaphosa thanked the Bank for pledging US$26 million to the Africa Centers for Disease Control and Prevention, for its assistance in procuring critical medical supplies in Africa and for the financial tools provided to help member countries deal with the pandemic.

The African Development Bank recently launched a $3 billion social impact bond, "Fighting COVID-19", for which bids exceeded $4.6 billion. It is the largest dollar-denominated social bond ever launched on international capital markets and the largest US dollar benchmark issue ever made by the Bank. The Bank has also launched a $10 billion COVID-19 Rapid Response Facility (CRF) to help Africa and fight the pandemic.

Through these initiatives, the Bank stands ready to deploy funds to help African governments and the private sector access financing that will enable them to reduce the economic and social impacts of the COVID-19 pandemic.

"I commend the AfDB for taking these courageous initiatives and for the role it has played under your leadership during this difficult period," President Ramaphosa said in writing in a message of support to Akinwumi Adesina.

Echoing President Ramaphosa's statement, President Sirleaf said: "The leaders of Africa, and I dare say the world, have taken note of the significant changes you have brought to the Bank: the reorganization of its management and the restructuring of its operations around the “High 5s” which constitute a response to the most essential needs of Africa in terms of development.

Hailing the record level of replenishment achieved last year by the Bank, President Sirleaf added: “Don't worry, dear President, because you know that Africa respects your intelligence and your determination and that 'it is pleased that, thanks to your leadership qualities, our institution, the first on the continent, has received honors and recognition at the international level for the high quality of its performance and its results.?

Under the leadership of Akinwumi Adesina, the African Development Bank has centered its mission around its development priorities, the "High 5s." : Light up and Power Africa, Feed Africa, Industrialize Africa, Integrate Africa, and Improve the quality of life of people in Africa.

In 2019, the Bank's shareholders approved an unprecedented general capital increase of $115 billion, the largest in the Bank's history, which increased its equity to $208 billion. .

Contact:

Gershwin Wanneburg

Department of Communication and External Relations,

African Development Bank ?