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Find all the economic and financial information on our Orishas Direct application to download on Play StoreThe post-Covid economic recovery in Africa for which the AfDB has launched a fund of 10 billion dollars and especially the re-election (except coup de théâtre) of President Akinwumi Adesina, sole candidate for his own succession are the main topics of the 55th General Assemblies of the institution which are held online on 26 and 27 August.
Under the theme "Rebuilding Africa Better after the COVID-19 Pandemic", the 55th Annual Meetings of the African Development Bank (AfDB) which are being held virtually on August 26 and 27 due to the Covid-19 pandemic, formalize the entry of Ireland as the 81st member country of the institution including the 54 Africans. On the occasion, the governors will discuss in detail the $10 billion strategic fund launched last April to help Africa cope with the pandemic and help it revive its economy, as the release of funds is gradually being put in place. But beyond that, the hottest issue of these assemblies is undoubtedly the election of the AfDB President for the next five years. Akinwumi Adesina, in office since 2015, is the sole candidate for his own succession. While the vote is scheduled for the end of the work, barring a coup de théâtre, the path seems completely marked for the former Nigerian Minister of Agriculture. Read also: Crisis at the AfDB: the "violent departure" of the US-Swiss deputy of Adesina At the opening ceremony on Wednesday morning, Ivorian Minister Kaba Nialé, Chair of the Board of Governors of the AfDB praised "the efforts of all the governors and the team of the Bank who have been able to adhere to our proposals in a concerted and consensual manner" as well as "the panel of the three high personalities under the leadership of Mrs. Mary Robinson whose work in complete independence exonerated President Adesina of all allegations, but above all to strengthen the credibility of the organs of the institution as a guarantee of its reputation vis-à-vis the shareholders". "Dear Governors, these Annual Meetings are an opportunity for me to offer you my services again and to run for a second term as President of the African Development Bank. " said Akinwumi Adesina in his speech this morning, acknowledging that "the last few months have [...] been difficult for the Bank." Read also: AfDB: Targeted by an independent investigation, Akinwumi Adesina insists on his "innocence" Accused of mismanagement by a group of whistleblowers internal to the institution, Adesina was pointed by sixteen allegations. Doubly cleared, first by the investigation of the AfDB's ethics committee, then by the independent review - preferred to the independent investigation requested by the complainants - citing a lack of evidence against the president. Meanwhile, several events – including the surprise resignation of a vice-president very close to Adesina, the Swiss-American Jennifer Blanke – have raised many questions that remain unanswered. On several occasions, Nigeria has expressed its support for President Adesina, highlighting some of his achievements, including the historic capital increase of the AfDB in October 2019. In addition to the intense lobbying carried out in favor of his former minister, the country of Muhammadu Buhari, the institution's largest shareholder, created a surprise just recently by strengthening its stake in the capital of the AfDB, from 9.05% to 16.8%. Enough to weigh more during the votes of the Governing Council, especially in the election of the President.
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