News: News

President Michel congratulates new Designate ADB President

President Michel congratulates new Designate ADB President

29.05.2015

Following the conclusion of the election for the new President of the African Development Bank, President James Michel has conveyed the congratulations of the people and government of Seychelles to the new President Designate of the ADB- H.E Dr. Akinwumi Ayodeji Adesina from the Federal Republic of Nigeria. 

Dr. Adesina will succeed H.E Mr. Donald Kaberuka after he completed his final term of office next month. 

President Michel has also taken the opportunity of the annual meetings to convey his warmest appreciation to Mr. Kaberuka as he retires from the role of the President of the Bank for his ongoing support to Seychelles' development and for his transformational leadership of the ADB over the last 10 years. 

In his message to Dr. Adesina, President Michel noted that the new President has all the necessary credentials to ensure inclusive growth of the continent as well as to enhance the Bank's leadership in financing for sustainable development:

"As Africa's smallest state we have appreciated your commitment to ensure inclusive growth of the African continent, as well as to ensure that the opportunities created on our continent can benefit all states, whether large or small, land-locked or insular. 

Your experiences in bringing green growth to Nigeria also places you in an ideal position to further ensure that the African Development Bank continues to be a leader in sustainable development. Seychelles looks forward to working with you in your new capacity to address the opportunity represented by Africa's Blue Economy. As we move to further empower African nations to make the most of their oceanic spaces, we must ensure that appropriate resources are available for this transformation."

President Michel also conveyed Seychelles' appreciation to President Jorge Carlos Fonseka and Prime Minister Jose Maria Neves of the Republic of Cabo Verde for the dynamic candidacy of Mrs. Cristina Duarte, the country's Minister of Finance who had been backed by Seychelles and other African SIDS for the post. He noted that SIDS were even more visible and engaged thanks to her candidacy, and that her message has helped to ensure that Africa's islands could better ensure that their specificities were recognised by regional development institutions such as the ADB. 

In his message of appreciation to outgoing President Kaberuka, President Michel noted that the ADB under his leadership had been prepared to adopt innovative approaches to allow Seychelles to address some of its unique challenges- including through partial financing of Seychelles undersea cable as well as a partial guarantee for its debt restructuring with the Paris Club- the first time the bank had ever participated in such an operation. President Michel stated that the Seychellois people would always be grateful for his support and recalled his visit to Seychelles with much warmth and affection. 

Seychelles was represented at the election in Abidjan by Minister of Finance, Trade and the Blue Economy, Jean-Paul Adam, Peter Sinon, a former Executive director to the bank accompanying the minister in an advisory capacity and Ms. Fatime Kante from the Ministry of Finance.

» All news