The Africa Development Bank (AfDB) has been awarded as the best multilateral financial institution in the world, U.S. magazine Global Finance announced via a release on Tuesday.

The financial markets magazine with the award, recognises investment banking capacities, hence, standing out the AfDB for its unrelenting efforts in providing support and financial development for its 54 member nations.

The latest event is the magazine’s 22nd edition of its Best Investment Bank Awards.

According to the release, the award to the Dr. Akinwumi Adeshina-led AfDB “represents clear support to the operational strategy that the African Development Bank has been pursuing.” 

Receiving the award, Mr. Adeshina who was last year unanimously re-elected president of the institution for a second consecutive five-year term said: “I am delighted at Global Finance’s recognition of the African Development Bank as the best multilateral financial institution in 2021. It is a distinct honour, and I consider it as a mark of confidence in my leadership of Africa’s premier multilateral finance institution.”

Saying the award was “duly earned”, Mr. Adeshina ascribed the steady success of the bank to the teamwork by all its staff, adding that: “I would be remiss if I did not recognize the support of our fabulous Board of Directors, who have made an accelerated approval process a hallmark of our pandemic response operations.”

Leading to the Global Finance award, the bank’s Fight COVID-19 Social Bond which got immense investors’ support, attained enlistment into the Luxembourg Stock Exchange and thereafter also got listed into the London Stock Exchange, while in March 2020, the bank won the Environmental Finance’s 2020 bond of the year award.

The release further revealed that the full results of the annual Best Investment Bank Awards for this year will be published in April 2021.