AfDB appoints Atsuko TODA the acting Vice President for Agriculture, Human and Social Development

AFRICA – The African Development Bank Group (AfDB) has announced the appointment of  Ms. Atsuko TODA as Acting Vice President for Agriculture, Human and Social Development, effective 16 March 2021. Atsuko, a Japanese citizen, is a seasoned professional with over 20 years of experience with international institutions. Atsuko joined the Bank in December 2016 as Director of the Agriculture, Finance and Rural Infrastructure Development Department. In her current function, she is responsible for the bank’s investments in private sector agribusiness companies, mainstreaming disaster risk finance, and development of Special Agro-Industrial…

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AfDB approves US$120m loan to build Malagarasi hydro-power project in Tanzania

TANZANIA – The African Development Bank (AfDB) has approved a US$120 million loan to fund the construction of a 50MW hydro-power plant in Western Tanzania that will provide reliable renewable energy in Kigoma region. The Malagarasi hydro-power project has several components: a run-of-the-river hydro-power plant facility; a 54- km, 132 kV transmission line that will connect to Tanzania’s national grid; a distribution network expansion operation that includes rural electrification and last-mile connections; project management and contract administration support; and compensation and resettlement of affected persons. Bank President Adesina Akinwumi noted…

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Nigerian Economist Akinumwi Adesina re-elected President of AfDB Bank

NIGERIA – Nigerian Economist, Dr. Akinwumi A. Adesina has been re-elected to serve a second five-year term as President of the African Development Bank Group by the Board of Governors of the Bank. Adesina, 58, is a distinguished development economist and agricultural development expert with 25 years of international experience and is the first Nigerian to serve as President of the Bank Group. A statement from AfDB revealed that Adesina who was first elected as President of the Bank will begin his new 5-year term on September 1, 2020. AfDB…

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Nigeria increases stake in AfDB as bank presidential elections draws nigh

NIGERIA – The Federal Government of Nigeria has almost doubled its stake at the African Development Bank (AfDB) at a time when the bank is heading into an election to elect its next president. According to a report by Nairametrics Nigeria increased its stake at the African Development Bank to 16% by paying subscriptions it had pledged as part of a general capital before the January 2021 deadline. The development according to a report by Bloomberg makes Nigeria the biggest rights holder with a wider margin, followed by non-regional members…

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