African Development Bank releases timetable to elect new president

African Development Bank releases timetable to elect new president

- The African Development Bank is set to hold a virtual meeting from August 25th to 27th, 2020

- One of the key items for discussion is the election of a new president of the bank

- The current president, Akinwumi Adesina, has been in office since 2015

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YEN.com.gh has learned that the African Development Bank (AfDB) will hold a virtual meeting from August 25 to August 27 of 2020.

Details available show that key on the agenda is the election of a new president of the bank.

A report by classfmonline.com shows the series of meetings would include one involving the Board of Governors.

African Dev’t Bank releases timetable to elect new president
Akinwumi Adesina, President of AfDB Source: African Development Bank
Source: UGC

READ ALSO: Banks to promote economic recovery by financing viable projects - Report

Akinwumi Adesina has been the president of the AfDB since 2015 and is the first Nigerian to hold the office.

An earlier report by YEN.com.gh shows that the AfDB has approved a $69 million grant to Ghana to combat the outbreak of the coronavirus.

The decision was reached on Friday, July 24, 2020, and is intended to help reduce the socio-economic impact of the coronavirus on Ghana.

In other news, AfDB has predicted that about 49 million Africans could be pushed into poverty due to the outbreak of the coronavirus.

It added that Western and Central African countries are more likely to be hit by poverty. The AfDB has, however, projected that the economy is likely to rebound in the year 2021.

YEN.com.gh understands that the figures were included in a variation of the bank’s African Economic Outlook, which was originally published before the outbreak of COVID-19.

READ ALSO: Banks are now well-positioned to support economic growth - Ofori-Atta

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Source: Yen

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