The African Development Bank (AfDB) has elected Sidi Ould Tah, an experienced Mauritanian economist and former finance minister, as its ninth president. The decisive vote took place in Abidjan, the capital of Ivory Coast, where the Bank’s Board of Governors convened. This board, made up of Finance and Economy Ministers or Central Bank Governors from the Bank’s 81 member countries, is the highest decision-making body of the institution.
Sidi Ould Tah’s election marks a significant leadership change at Africa’s premier financial institution that drives development financing and economic growth across the continent. With his extensive background in economics and public finance, Tah is expected to steer the bank towards more inclusive and sustainable growth strategies.
The African Development Bank Group plays a pivotal role in:
- Funding projects that improve infrastructure
- Fighting poverty
- Promoting regional integration in Africa
By selecting Tah, the members emphasize a renewed focus on strong economic policies and financial expertise.
The election underscores the importance of Mauritania and West Africa in continental economic development discussions. Sidi Ould Tah’s presidency is anticipated to bring innovative approaches to Africa’s diverse economic challenges.
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