When Akinwumi Adesina began his presidency at the African Development Bank AfDB in 2015, the institution had a capital base of 93 billion. By 2024, that figure has grown to 318 billion, reflecting his successful efforts to strengthen the Bank's financial capacity.
Adesina's primary achievement has been convincing both regional and non-regional shareholders to increase the Bank's capital, ensuring its financial stability for the future.
In an exclusive interview at COP29 in Baku, Adesina acknowledged that while the AfDB has made significant progress, there are still many challenges ahead. One of the most pressing challenges is the climate crisis, which is disproportionately affecting Africa.
Adesina emphasized that Africa loses between 7 billion and 15 billion annually due to climate change, with that amount expected to rise to approximately 50 billion per year by 2030. Under his leadership, the Bank has significantly increased its lending for climate-related projects to address the continent's urgent environmental needs.
