The first term of Dr. Akinwunmi Adesina as the president of the African Development Bank (AfDB) came to an end in May 2020, he is also due for re-election for a second term.
While the cost to income ratio of the bank is 41 per cent, the comparable figure for the World Bank is 113 per cent, meaning the African Development Bank(AfDB) is three times more efficient on its administrative costs compared to the World Bank.
The African Development Bank(AfDB), launched the Africa Investment Forum in 2018, in Johannesburg, South Africa.
The bank's High 5 strategic priorities: Light up and Power Africa; Feed Africa; Industrialise Africa; Integrate Africa; and Improve the quality of life of the people of Africa, have been acclaimed globally as the key for achieving the Sustainable Development Goals in Africa and the Agenda 2063 of the African Union.
Following the approval of GCI-7, bank expects to help African countries to achieve the following development results in the next 8 years:105 million people would get access to electricity, 204 million people would benefit from improved access to agricultural technologies to achieve food security,23 million people would benefit from investee private sector companies,252 million people would gain access to improved transportservices, and
128 million people would benefit from improved water and sanitation.