The revenue profile of the African Development Bank (AfDB) has continued to rise from 2015, when Akinwumi Adesina was elected President.
Akinwumi who previously served as Nigeria’s Minister of Agriculture and Rural Development revealed this via his Official Twitter handle on Sunday.
The AfDB President stated that the revenue of the multilateral development finance institution grew to $492.7 million in 2015, $556.6 million in 2016 and a record $855 million in 2017.
“African Development Bank’s net income continues to grow solidly. We moved from $492.7 million in 2015, when I took over, to $556.6 million in 2016 and $855 million in 2017, an increase of almost 54% over 2016. And 73% increase over where we were 2015,” said Akinwumi.
He said that due to the record revenue, the AfDB achieved its highest annual disbursement ever in its history at $7.67 billion in 2017, while greatly impacting on millions of lives.
Akinwumi said 4.4million were provided with access to electricity, 8.5 million benefited from improved agric technologies, 2.6 million benefited from investment projects, 14 million provided with improved transport and 8.3 million from water and sanitation.