By Abdul Rahman Bangura–
NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- The U.S. first permanently Ambassador Harold Doley – First Representative to the African Development Bank (AfDB), has invited President Donald Trump’s government to finance the bank’s President – Dr. Akinwumi Adesina.
Doley provided the information in an open letter recognized to the U.S Secretary of the Treasury which was accessed by the News Agency of Nigeria (NAN) in Abuja on May 31st, 2020. NAN thinks back to that, Ambassador Doley was appointed by former U.S President – Ronald Reagan to fulfill as the first U.S Executive Director of AfDB from 1983 to 1985.
The Ambassador, who affirmed that, endorsing AfDB was a nice business for America, noted that since taking office in 2015, the current president of the bank had promptly restructured the bank and improved its priority through a high5 blueprint. According to him, the policy has immediately influenced the lives of millions of Africans.
He expressed that, this was attained through strategic venture in energy, and electricity, agriculture, technology that considerably enhanced food security, access to private sector finance, improved transport infrastructure, water and sanitation.
“In 2019, with U.S 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.
“Also in 2019, the bank’s concessional Window, the African Development Fund, received a 35 percent replenishment with donor contributions.
“U.S shares of 499,695,200 dollars represents 7.81 percent 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” he reinforced.
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