ARUSHA, Tanzania - Dr. Donald Kaberuka, the current President of the African Development Bank (AfDB), will next year step down and the Board of Governors will elect a new president.
Dr. Kaberuka, a national of Rwanda, was elected in July 2005, and commenced his first term on 1 September 2005. However, he was re-elected in May 2010 and commenced his last five-year term on 1 September 2010.
Accordingly, the Board of Governors will be electing Dr. Kaberuka’s successor on 28 May 2015, during the Bank’s Annual Meeting, scheduled to take place in Abidjan, Côte D’Ivoire, from 25 to 29 May 2015, the statement noted.
The announcement was made last week in a statement issued by the bank.
Rules demand that the election of a new President of the AfDB are carried out during their Annual Meeting closest to the end of the term of office of the serving President.
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