BY DAYO ADESULU
The United States first representative to the African Development Bank (AfDB), Harold Doley has told President Trump that supporting the AfDB President Akinwumi Adesina is to United States advantage.
This is just as Julius Maada Bio, the president of Sierra Leone, also spoke in favour of Adesina.
Bio, in a tweet on Sunday, said: “Be assured @akin_adesina of my and my country’s staunch confidence and unflinching support for your bold and progressive leadership of the African Development Bank (@afdb_group),” the president tweeted.
On his part, Doley in an open letter to U.S President Donald Trump said that supporting AfDB is good business for America.
He explained that since Adesins assumed office in 2015, he has rapidly restructured the bank and refined its focus through a High-5 strategy.
According to Doley, Adesina”s strategy has directly impacted the lives of millions of Africans.
He pointed out that this was achieved through strategic investment in energy, and electricity, agriculture, a technology that significantly improved food security, access to private sector finance, improved transport infrastructure, water and sanitation.
Doley said: “In 2019, with US support, the AfDB stakeholders approved a general capital increase of 115 billion dollars, the largest in the bank’s 56 years history.
”The increase more than doubled capital from 93 billion dollars to 208 billion dollars,” the letter read.
“Also in 2019, the bank’s concessional window, the African Development Fund, received a 35 per cent replenishment with donor contributions.
“US shares of $499,695,200 represents 7.81 per cent of total subscriptions are a critically needed resource for low-income countries and transition states.
“Ultimately, supporting Africa’s private sector is critical for social and economic development. In 2018, Adesina led an unprecedented effort to attract global investment into Africa through the inaugural Africa Investment Forum.”
Obasanjo, Jonathan, Prime Minister, 13 Former Presidents Caution U.S On AfDB’s Adesina
Recall that TheCheer had earlier reported that former Nigerian presidents Olusegun Obasanjo and Goodluck Jonathan and 13 former African presidents have also expressed support for Adesina.