AfDB recognised as top multilateral finance institution
Development finance institution the African Development Bank (AfDB) has been named as the Best Multilateral Financial Institution in the world for 2021 by US finance and investment magazine Global Finance.
The award is a recognition 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, the AfDB said in a statement on March 9.
“I am delighted at Global Finance’s recognition of the AfDB 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 AfDB has risen to a position as a foremost globally-respected financial institution,” said AfDB president Akinwumi Adesina.
The award was duly earned and the AfDB's continued success can be credited 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.
“We are developing and deploying financial, investment and knowledge products to meet the rapidly changing needs of African countries and the private sector. The support of our shareholders and the strong corporate governance of the AfDB's board of directors have served us well, as we continue to leverage our resources to better serve our clients,” he noted.
“With 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. Companies need more than ever to understand the specialties and skills that investment banks bring to the table, and the Global Finance awards are a valuable guide,” said Global Finance publisher and editorial director Joseph Giarraputo.
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