The African Development Bank (AfDB) elected Sidi Ould Tah as its new president, installing a former development banker at the helm of one of the most important multilateral institutions on the continent.
Tah, an ex-finance minister of Mauritania, defeated four other candidates and was elected with 76.2% of the vote, the AfDB’s board of governors said on Thursday.
Replacing Nigeria’s Akinwumi Adesina, who steps down September 1 after a decade at the helm, Tah must reinforce the AfDB’s finances after US President Donald Trump proposed cutting $555-million in support and as other key funders divert aid toward domestic needs.
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