The African Development Development Bank(AfDB) has been named the Best Multilateral Financial Institution in the world for 2021 in the prestigious U.S. magazine, Global Finance, specializing in financial markets and investment banking.
In 2020, AfDB received broad recognition for responding swiftly to the needs of the African continent in the wake of the Covid-19 pandemic and for its pioneering role in the global social bond market.
The award is a global recognition for the path breaking efforts of the AfDB as it transforms itself into a solutions bank for Africa, through a combination of its operations, knowledge services and investment positioning, which continue to help accelerate Africa’s development.
In a statement, AfDB President Akinwumi Adesina described the award as one which was duly earned and credited the Bank’s continued success to a new culture of results, strong client orientation, leadership, creativity and continued innovation by a team of excellent staff across all its jurisdictions.
“I am delighted at Global Finance’s recognition of the African Development Bank as the best multilateral financial institution in the world in 2021. I am proud that for first time since its establishment in 1964, the African Development Bank has risen to a position as a foremost globally-respected financial institution,” he said.
The bank is constantly innovating, developing and deploying financial, investment and knowledge products to meet the rapidly changing needs of African countries and the private sector.
“The extraordinary support of our shareholders and the strong corporate governance of the Bank’s board of directors have served us well. We will continue to leverage our resources to better serve our clients,” Adesina said.
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