The African Development Bank Group was awarded an AAA rating by global rating agencies – Moody’s, Standard & Poor’s, Fitch, and the Japan Credit Rating Agency.
The Bank has increased its capital from $93 billion in 2015 to a current $318 billion.
Speaking about this achievement at the 38th Ordinary Session of the Assembly of the Heads of State and Government of the African Union (AU) last week, Dr Akinwumi Adesina, said “we have been the only AAA-rated financial institution on the continent over the last nine years.”
Adesina also said the bank has impacted over 515 million people, of which 231 million, are women, in the last ten years.
The Bank also received the 2020 Bond Award from Environmental Finance, for its successful social impact bond, issued on the Norwegian market.
Picture: AFDB