The African Development Bank is engaged in a race against ‘downgrading’. The institution chaired by Nigerian Adesina is seriously considering authorizing a special capital increase, an exceptional measure to protect its AAA rating.
Approved by the bank’s board of directors at the end of January, the procedure will be examined by the board of governors at a meeting scheduled for 5 March before, if necessary, being implemented from mid-March onwards.
Source : The Africa Report
