The African Development Bank says it is postponing its election of a new president after members reached a deadlock in voting.

The pan-African bank says the election hit gridlock Wednesday when neither of the final two candidates could gather wide enough support to win.

The candidates were Rwandan Finance Minister Donald Kaberuka and Olabisi Ogunjobi from Nigeria.

Bank officials say a new election will take place at the end of July.

The African Development Bank provides loans and technical assistance to African countries to ease poverty and increase development.

Some information for this report provided by AP, AFP.