Financial markets and investment banking US Magazine, Global Finance, has named the African Development Bank (AfDB) as the best Multilateral Financial Institution in the world for 2021.
AfDB revealed this on its website in a statement signed by Amba Mpoke-Bigg on behalf of the Communications and External Relations Department. The bank noted that the award demonstrates global recognition for the path-breaking efforts deployed by the current president of the Bank, Akinwumi Adesina.
‘’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 the first time since its establishment in 1964, the African Development Bank has risen to a position as a foremost globally-respected financial institution," the statement read as part of Akinwumi Adeshina's comment on the milestone.
“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. We are constantly innovating, developing and deploying financial, investment and knowledge products to meet the rapidly changing needs of African countries and the private sector.”
In 2020, the Bank received commendations from every nook and cranny of the world over its pioneering role in the global social bond market and for its front line role in meeting regional needs amid a turbulent African economy ravaged by the COVID-19 pandemic.