EYEAFRICA TV: Abidjan, IVORY COAST:-Global Finance named the African Development Bank (AfDB) the best multilateral financial institution in the world, a global recognition of its constant efforts to provide 54 regional member countries support in financing their development.
The AfDB stood out at the 22nd edition of the Global Finance Best Investment Bank Awards, where the prestigious U.S. magazine specializing in financial markets recognizes investment banking capacities.
“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,” said Joseph D. Giarraputo, publisher and editorial director of Global Finance on announcing the winning list on 18 February 2021.
In 2020, the African Development Bank received broad recognition for responding quickly to the needs of the African continent in the wake of the COVID-19 pandemic and for its pioneering role in the social bond sphere.
In October 2020, the AfDB was selected in a poll of bond market players as the best issuer in 2020 of a COVID-19 bond for its $3 billion dollar-denominated Fight COVID-19 social bond, issued on 27 March 2020.
In March 2020, the Bank received the Environmental Finance’s 2020 bond of the year award—SSA category—for a successful one billion Norwegian Krone social bond issued in 2019.
Since 2017, the African Development Bank has launched nearly $5 billion worth of such instruments, denominated in US dollars, euros and Norwegian krone.
African Development Bank President Dr. Akinwumi A. Adesina, said: “I am delighted at Global Finance’s recognition of the African Development Bank as best multilateral financial institution in 2021. It is a distinct honor, and I consider it as a mark of confidence in my leadership of Africa’s premier multilateral finance institution.”
The full results of the 22nd annual World’s Best Investment Banks will be published in an exclusive survey in the April 2021 print and digital editions of GFMag.com.