TheCable

Delegates from member countries and shareholders of the African Development Bank (AfDB) will meet virtually for the first time in the bank’s history for its annual meeting.

Foremost on the agenda of the meeting would be the election of a president that will be the helmsman of the bank for the next five years.

Nigeria’s Akinwumi Adesina, incumbent president of the bank, is seeking re-election and is the sole candidate in the election.

The annual meeting will hold between August 25-27.

The 2020 annual meeting marks the 55th meeting of the bank’s board of governors and the 46th annual meeting of the African Development Fund, the bank’s concessional arm.

“During the meetings, governors of the African Development Bank from the 54 African regional member countries and 27 non-regional member countries will receive updates on a range of developments since the previous annual Meetings held in Malabo, Equatorial Guinea, in June 2019,” the bank said.

On August 27, governors will elect the eight’s president of the bank.

Whistleblower allegations of favouritism had been levelled against Adesina and although he had been cleared by the ethics committee of the bank, the US had requested for an independent investigation saying it was not satisfied with the report of the committee.

In a letter signed by Steven Mnuchin, its treasury secretary, the US government said it had ” deep reservations about the integrity of the committee’s process”.

On June 5, Niale Kaba, chairperson of the bureau of the board of governors, said the bureau had agreed to authorise an independent review of the committee’s report in the interest of due process and the “need to carry every governor along in resolving it”.

The independent review panel led by Mary Robinson, former Irish president, announced on June 28 that it agreed with the decision of the ethics committee to clear Adesina of the allegations.