Credit rating agency Standard and Poors Global last Friday affirmed that the
The bank got an
The rating agency positively assessed the bank's financial risk profile, capital adequacy, funding and liquidity, shareholder support and adequacy of its governance and management.
"We are therefore affirming our '
The rating agency noted that the bank's
"The stable outlook reflects our expectation that, over the next two years, AfDB will prudently manage its capital while maintaining solid levels of high-quality liquidity assets and robust funding,"
S and P expects that "shareholders will remain supportive by providing timely capital payments, and the bank will continue benefiting from preferred creditor treatment, prudently manage growth in private-sector lending in a way that is aligned with its mandate".
The
The rating agency further noted that the AfDB will play a key role in supporting the region, particularly in the context of Covid-19.
The institution approved an up to
"We will continue to maintain these standards, with the strong support of all our shareholders, as we deliver much needed financial, knowledge and policy support to our regional member countries during and after this period of the Covid-19 pandemic," he said.
- AfDB news, additional reporting by Lazarus Amukeshe
Copyright The Namibian. Distributed by AllAfrica Global Media (allAfrica.com)., source