The African Development Bank elected Mauritanian economist Sidi Ould Tah as its next president on Thursday to steer the region's top development finance institution through difficult times amid funding cuts from the U.S. and other key partners.
Tah, 60, was elected by the bank’s board of governors, which includes finance ministers and central bank governors from its 81 regional and non-regional member countries. He will take over on Sept. 1 for a five-year term, succeeding Nigeria’s Akinwumi Adesina, who is stepping down after two terms.
