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AfDB maintains financial strength despite an unfavourable global environment
In spite of an unfavourable global economic environment, the African Development Bank (AfDB) maintains its strong financial position and its capacity to bear risk remains high. These were the observations made by AfDB President Donald Kaberuka during presentation of the Bank's Annual Report on May 21 as part of the Annual Meetings held in Kigali, Rwanda.
Kaberuka announced that the four major rating agencies reaffirmed their AAA ratings of the Bank with a stable outlook for its senior debt. "This rating reflects the adequacy of the Bank's own funds, the prudence of its financial and risk management, the solid support of its shareholders and its preferred creditor status," he emphasised.
The Bank continues to enjoy a solid capital structure. While experiencing downward pressure, its income remains sufficient to enable it to make contributions on behalf of its shareholders to other development initiatives in Africa.
Link: Annual Meetings Website