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Japan Credit's Rating - News release - august 2018
The African Development Bank (the Bank) is a multilateral development bank (MDB) with the mandate to support the sustainable economic development and social progress of its regional member countries. The ratings mainly stem from the solid support to the Bank’s operation from its regional and non-regional member countries; its solid financial base; its prudent financial and risk management policies; and its status as a "preferred creditor". The rating outlook is Stable. President Akinwumi Adesina has been promoting the Bank’s mandate by implementing the “High 5s” priorities to accelerate its Ten-Year Strategy (2013-2022). The Bank has also introduced clientoriented organizational structure and reinforced its structure of governance and risk management. Accordingly, the Bank has been keeping the quality of its assets unchanged amid surging its loans and investments. Nonetheless, the Bank’s self-imposed internal regulations relating to risk capital utilization and borrowings are approaching their limits. The Bank has committed to comply with the regulations and has already initiated the process that will potentially lead to a new capital increase (GCI-VII). JCR holds that another capital increase is highly likely to be approved on the back of the Bank’s solid track record to promote its mandate.