By John Ikani
The President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, says that the financial institution would lend $500 million to women in 2022.
Adesina in a statement he posted on his verified Twitter handle, @akin_adesina, added that with the support of French President, Mr. Emmanuel Macron and the G-7, the AfDB’s Affirmative Action for Women in Africa (AFAWA) was raising $5 billion for women businesses.
He also added that the bank paid out $483 million to financial institutions to lend to women businesses in 2021.
Adesina, whose statement is coming as the bank commences its Annual Meetings for 2022, said the board had approved a crisis response facility of up to $10 billion based on rigorous risk assessments when the COVID-19 pandemic struck, adding that it launched a $3 billion COVID-19 social bond on the global capital markets, the highest ever US dollar denominated social bond in world history.
According to him: “Our rapid COVID-19 response facility helped towards stabilising African economies. It trained 130,000 health workers. It provided social protection for about 30 million vulnerable households. It provided advisory support for 300,000 small and medium sized businesses.”
“Independently conducted survey by a global HR firm found 85% of staff are happy with the Bank, an exceptionally high level for any institution globally. Despite COVID-19 and the challenges of working from home, 97% of staff were pleased with the IT services support provided by the Bank.
The AfDB boss stated that to tackle the food crisis arising from the Russian-Ukraine crisis, the AfDB board last week approved a $1.5 billion African Emergency Food Production Facility to support 20 million farmers to produce 38 million metric tons of food.
He also said in a bid to help Africa adapt to climate change, the bank is partnering globally with the Global Center on Adaptation, and with former UN Secretary General Ban Ki-moon to mobilize $25 billion in support of Africa.
“Our achievements, exceptional management, good governance systems, and delivery of the Bank cannot be denied or misrepresented based on externally fabricated lies, distortions, misinformation, and deliberately orchestrated campaign of calumny to attempt to tarnish our image.
“We will tell our story. We will not be defined by mischief makers, lies and biases. We are proudly African. We will continue to make Africa proud as Africa’s only AAA-rated financial institution.”
Adesina commended the Board of Governors, Board of Directors, management and all the hardworking staff of the bank for all their relentless work.
He also thanked all the bank’s 81 shareholder countries for their incredible confidence and support.
