The “AAA/A-1+” credit rating for the African Development Bank has been confirmed by S&P Global Ratings. Through a press release, the ADB informs that the rating agency has positively assessed the Bank's risk profile, the adequacy of its capital, the soundness of its financing strategy and its level of liquidity. , the very strong support of its shareholders and the adequacy of its governance and management system.

“We therefore confirm the 'AAA' rating of the long-term debt of the African Development Bank,” S&P Global said according to the document. Who adds in the process that S&P Global highlighted the Bank's historic $115 billion capital increase, which shareholders approved in October 2019, as well as the replenishment of the African Development Fund, the low-interest loan window Bank Group concessional contract in December 2019.

“The stable rating outlook reflects our expectation that, over the next two years, the African Development Bank will manage its capital prudently, while maintaining a high level of liquidity matched by a quality investment portfolio, and pursuing a strong funding strategy,” the press release reads.

According to the African financial institution, the agency thus provides that "the shareholders will continue to provide their support by paying their contributions to the Bank's capital according to the established schedule", and that the Bank "will continue to benefit from the treatment accorded to secured creditors, and to prudently manage the growth of lending to the private sector in a manner consistent with its mandate. »

According to S&P Global Ratings, “The African Development Bank will play a key role in supporting the region, particularly in the context created by the Covid-19 pandemic. The institution has approved emergency assistance of up to $10 billion in 2020, of which $6.9 billion will be financed directly by the Bank and the rest through its concessional window. »

"We welcome the decision by S&P Global Ratings to reaffirm the Bank's AAA/A-1+ rating," the statement said. The President of the ADB maintains following this information that this decision reflects the great financial solidity of the institution, its prudent risk management and the quality of its governance.

"We will maintain the Bank at this level of excellence, with the full support of all our shareholders, in order to provide our regional member countries with essential support in terms of financing, knowledge and policy support, during this period of Covid-19 pandemic”, finally commits President Akinwumi Adesina.