Osinbajo inaugurates AfDB country office, says $6bn portfolio enhances job creation

Vice-President, Yemi Osinbajo, on Thursday, inaugurated the Country Office of the African Development Bank (AfDB). He praised the banks $6 billion portfolio in Nigeria, which enhanced job creation. 
He particularly mention his delighted that the bank has been working closely with the Buhari  administration in addressing the challenges facing the people affected by insurgency in the North East and militancy in the Niger Delta.
According to him, the Bank’s portfolio was spread across 73 projects across the country, and that the approval by AfDB sent a much needed positive signal to the markets at a critical time for Nigeria and the country will remain grateful.
Osinbajo said that as the people celebrates the inauguration of the bank’s world-class edifice he would reiterate the commitment of the Buhari administration to the bank’s strategy in Nigeria. He said the strategy had been fully aligned with the country’s economic and growth plan of 2018 to 2020.
The Vice President congratulated the management, Board of AfDB and their staff members for making the completion of the office a reality.
He said that the building was an important symbol of the special relationship between the bank and Nigeria, its founding member and its largest shareholder, since inception.
He said that since 1971, the Nigeria country office had served as the convening point between the bank, the Federal Government, State governments and the private sector, adding that Nigeria had been instrumental to AfDB’s growth.
Osinbajo recalled that when the Bank’s President , Akinwumi Adesina, assumed office he introduced the `High-Fives’ by investing more in infrastructure, as agriculture, water, power, education and healthcare and increased access to affordable energy.
The Vice-President commended the AfDB for its efforts to close the gender gaps, empower women and youth and also strengthen and expand social safety nets for the vulnerable populations.
He gave the assurance that with its large population, the country would continue to play active role in the bank’s efforts in regional integration and the entire continent.
He said the country would be strong and committed partner which it had already demonstrated by supporting the establishment of the $500 million Nigeria trust fund in 1976.
According to him, the Trust Fund had helped to transform the economies and improved the standards of millions of people in other African countries.

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