Financial Statements

All the financial statements provided here are part of the Annual Report. The accompanying notes to the financial statements form part of the statements.

The rating agencies Standard & Poor’s, Moody’s, Fitch Ratings, and the Japan Credit Rating Agency reaffirmed their AAA and AA+ rating of the African Development Bank’s senior and subordinated debt respectively, with a stable outlook. Their rating reflects the Bank’s strong membership support, its preferred creditor status, sound capital adequacy and prudent financial management and policies.