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Dr. Akinwunmi Adesina, President, African Development Bank |
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President
Ramaphosa expressed appreciation for the Bank’s commitment of $26 million for
the African Centres for Disease Control and Prevention, its support in the
procurement of critical medical supplies in Africa, and the financial
instruments the Bank has provided to assist member countries through the
pandemic.
“I commend the AfDB for taking these bold initiatives and for the
role played by the AfDB under your leadership during this challenging period,” President Ramaphosa, also
the current chair of the African Union, said in a written message to Dr.
Adesina.
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Echoing
President Ramaphosa’s statement, President Sirleaf said: “The leaders of Africa, and I dare say the world, have
recognised the important changes that you have made in the Bank –
reorganisation of management and restructuring of Bank operations around the
High 5s that represent a response to Africa’s more critical development needs.”
Acknowledging
the Bank’s highest ever capital replenishment last year, Sirleaf added: “Take heart, dear President, knowing that Africa respects
your intellect and commitment and is pleased that through your leadership our
premier institution has received worldwide acknowledgment and recognition for
high-quality performance and impacting results.”
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It can
be recalled that the African Development Bank recently launched a $3 billion
“Fight COVID-19” social bond, with bids exceeding $4.6 billion. It is the
largest dollar-denominated social bond ever launched in international capital
markets and the largest US dollar benchmark ever issued by the Bank.
The
Bank also launched a $10 billion Crisis Response Facility to support Africa and
to address the pandemic. Through these initiatives, AfDB is poised to deploy
funds to provide African governments and the private sector with access to
financing to reduce the economic and social impacts of COVID-19.
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