Tunis, 21 July 2005 – Rwandan Finance Minister, Mr. Donald Kaberuka (54) was on Thursday in Tunis elected President of the African Development Bank Group (ADB) during the extraordinary Meeting of ADB Governors held on 21-22 July 2005 in Tunis.
Mr. Kaberuka received 78.8% of the total votes and 68.2 % of the African votes while Mr. Olabisi Ogunjobi of Nigeria, polled 20.55% of the total votes and 30.74% of the African votes, in the seventh round of balloting.
Mr. Kaberuka will replace Mr. Omar Kabbaj of Morocco who will complete his 10-year tenure at the Bank at the end of August. The new President will be sworn in on 1st September 2005.
The election had been postponed following a stalemate at the 18-19 May Annual meetings of the Bank Group held in Abuja, Nigeria.