{"id":24842,"date":"2021-03-11T18:57:10","date_gmt":"2021-03-11T18:57:10","guid":{"rendered":"https:\/\/www.africa-press.net\/tanzania\/?p=24842"},"modified":"2021-03-11T18:57:10","modified_gmt":"2021-03-11T18:57:10","slug":"afdb-named-worlds-best-multilateral-financial-institution","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/economy\/afdb-named-worlds-best-multilateral-financial-institution","title":{"rendered":"AfDB named world\u2019s best multilateral financial institution"},"content":{"rendered":"
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AfricaPress-Tanzania:<\/strong> THE African Development Bank (AfDB) has been named the best multilateral financial institution in the world for 2021.<\/p>\n

The bank received global recognition from renowned international U.S. magazine Global Finance for its path-breaking efforts 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\u2019s development.<\/p>\n

The award is an affirmation of the success of the operational strategy being pursued by the African Development Bank under the leadership of Akinwumi Adesina, who was unanimously re-elected to a second consecutive five-year term as President of the institution last year.<\/p>\n

\u201cWith widespread expectations of consolidation in multiple sectors and all around the world, investment banks will play a leading role in reshaping the world economy post-pandemic,\u201d said Joseph Giarraputo, publisher and editorial director of Global Finance on announcing the winning list.<\/p>\n

\u201cCompanies need more than ever to understand the specialities and skills that investment banks bring to the table. Global Finance awards are a valuable guide.\u201d<\/p>\n

In 2020 the 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.<\/p>\n

It was selected the same year in a poll of global bond market players as the best issuer for its $ 3 billion dollar-denominated Fight Covid-19 social bond, issued on 27 March 2020.<\/p>\n

The Bank\u2019s Fight Covid-19 Social bond was the largest ever US dollar denominated bond in world history, floated on the Luxembourg stock exchange, and listed on the London Stock Exchange and the Nasdaq Sustainable Bond Platform.<\/p>\n

Also, in March 2020, the bank received the Environmental Finance\u2019s 2020 bond of the year award\u2014SSA category\u2014 for a successful one billion Norwegian Krone social bond issued in 2019.<\/p>\n

It was the first social bond ever launched in the Norwegian market, and the African Development Bank\u2019s first transaction in Norwegian Krone.<\/p>\n

Since 2017, the African Development Bank has launched nearly $5 billion worth of such instruments, denominated in US dollars, Euros and Norwegian Krone.<\/p>\n

Bank President Akinwumi Adesina, said: \u201cI am delighted at Global Finance\u2019s 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.\u201d<\/p>\n

Adesina described the award as one which was \u201cduly earned\u201d and credited the bank\u2019s 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. He added: \u201cWe are constantly innovating, developing and deploying financial, investment and knowledge products to meet the rapidly changing needs of African countries and the private sector.\u201d<\/p>\n

In February 2021, the ratings agency S&P Global affirmed the African Development Bank\u2019s \u201cAAA\/A-1+\u201d foreign currency issuer credit rating with a stable outlook. The bank has continued to receive extraordinary support from its shareholders, including an increase in its subscribed capital from $93 billion to $208 billion, the largest increase in its capital since its establishment.<\/p>\n

According to Adesina, The extraordinary support of our shareholders and the strong corporate governance of the bank\u2019s board of directors have served us well. We will continue to leverage our resources to better serve our clients.<\/p>\n<\/div>\n<\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

AfricaPress-Tanzania: THE African Development Bank (AfDB) has been named the best multilateral financial institution in the world for 2021. The bank received global recognition from renowned international U.S. magazine Global Finance for its path-breaking efforts as it transforms itself into a solutions bank for Africa, through a combination of its operations, knowledge services and investment […]<\/p>\n","protected":false},"author":84,"featured_media":24825,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[624,7629],"class_list":["post-24842","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-afdb","tag-akinwumi-adesina"],"yoast_head":"\nAfDB named world\u2019s best multilateral financial institution - Tanzania<\/title>\n<meta name=\"description\" content=\"THE African Development Bank (AfDB) has been named the best multilateral financial institution in the world for 2021.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/tanzania\/economy\/afdb-named-worlds-best-multilateral-financial-institution\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AfDB named world\u2019s best multilateral financial institution\" \/>\n<meta property=\"og:description\" content=\"THE African Development Bank (AfDB) has been named the best multilateral financial institution in the world for 2021.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/tanzania\/economy\/afdb-named-worlds-best-multilateral-financial-institution\" \/>\n<meta property=\"og:site_name\" content=\"Tanzania\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-11T18:57:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2021\/03\/AfDB-ed.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"660\" \/>\n\t<meta property=\"og:image:height\" content=\"330\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/afdb-named-worlds-best-multilateral-financial-institution#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/afdb-named-worlds-best-multilateral-financial-institution\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"AfDB named world\u2019s best multilateral financial institution\",\"datePublished\":\"2021-03-11T18:57:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/afdb-named-worlds-best-multilateral-financial-institution\"},\"wordCount\":569,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/afdb-named-worlds-best-multilateral-financial-institution#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2021\/03\/AfDB-ed.jpg\",\"keywords\":[\"AfDB\",\"Akinwumi Adesina\"],\"articleSection\":[\"all news\",\"Economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/economy\/afdb-named-worlds-best-multilateral-financial-institution#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/afdb-named-worlds-best-multilateral-financial-institution\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/afdb-named-worlds-best-multilateral-financial-institution\",\"name\":\"AfDB named world\u2019s best multilateral financial institution - 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