As you recall, the African Development Bank was created by several African countries in 1964, with the U.S. becoming a major stakeholder in 1983. Previously, we became members of the African Development Fund in 1974 as a result of legislation introduced by then-Congressman Andrew J. Young, Jr .It was my honor to be nominated by President Reagan to serve as the first U.S. Executive Director of the African Development Bank from 1983-85.
This has been through strategic investments in energy and electricity, agriculture technologies that significantly improve food security, access to private sector finance, improved transport infrastructure, and water and sanitation. In 2019, with U.S. support, the African Development Bank’s shareholders approved a General Capital Increase of $115 billion, the largest in the Bank’s 56-year history. The increase more than doubled capital from $93 billion to $208 billion.
Adesina’s groundbreaking Affirmative Action for Women in Africa , launched at the 2019 G7 Summit in Biarritz, France and at the Global Gender Summit in Rwanda, has received strong support from President Macron, the G7 leaders , African Presidents, and an additional $61.8 million from Ivanka Trump’s Women Entrepreneurs Finance Initiative . AFAWA will leverage $3 billion in financing for women businesses in Africa.
gimme my fucking money back now