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WASHINGTON – U.S. Treasury Secretary Steven T. Mnuchin issued the following statement upon the conclusion of the African Development Bank Annual Meeting:

“I commend the African Development Bank’s Board of Governors for reaffirming its commitment to the highest standards of governance and taking the opportunity at its Annual Meeting this week to dedicate resources to update its ethics governing framework.  I also congratulate President Akinwumi Adesina on the strong shareholder support that led to his re-election. 

“The African Development Bank is critical to bolstering economic growth, combating poverty, and addressing the impacts of the COVID-19 pandemic across Africa.  Americans and Africans alike share an interest in ensuring Bank resources are used efficiently and effectively, so I look forward to management taking key steps to strengthen the institution, as detailed in my Annual Meeting statement.

“This week’s meeting demonstrates strong partnership among shareholders that I trust will lead to robust implementation of the Bank’s institutional reform agenda and realization of our recent capital increase commitments, which will amplify the Bank’s impact on the lives of Africa’s people.”

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