AfDB named world’s best multilateral financial institution

The African Development Bank has been named by Global Finance as the best multilateral financial institution in the world.

The AfDB got the recognition at the 22nd edition of the Global Finance Best Investment Bank Awards, where the US magazine recognises investment banking capacities.

This award represents clear support to the operational strategy that the AfDB has been pursuing under the able leadership of its President, Dr Akinwumi Adesina, who was re-elected for a second consecutive five-year term as head of the institution last year, according to a statement on Tuesday.

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.”

He described the award as “duly earned” and attributed the bank’s continued success to strong teamwork by staff across all its jurisdictions.  “And I would be remiss if I did not recognise the support of our fabulous Board of Directors, who have made an accelerated approval process a hallmark of our pandemic response operations,” Adesina added.