Mission: To promote sustainable economic
development and social progress in Africa
 The African Development Bank (AfDB),
established in 1964, lends to middle-income
countries and has an authorized capital of USD
256 billion, as of 31 March 2021
 The African Development Fund (ADF),
established in 1972, provides concessional
funding to low-income countries and isreplenished every 3 years
 The Nigeria Trust Fund (NTF), established in1976, is maturing in 2023

MEMBERSHIP OF THE AFRICAN DEVELOPMENT BANK
(as of 31 March 2021)
AMERICASEUROPE

G-7 Shareholding: 27%AFRICA

MIDDLE EAST

To achieve inclusive growth and support
African countries transition gradually togreen growth

ASIA

IMPACT DELIVERY FROM PROJECTS COMPLETED IN 2020
 260,000 people with new electricity connections
 502 km of new or improved power distribution and transmission lines
 202 MW of new power capacity installed, of which 50% renewable 1.6 million tons of CO2 emissions reduced

The High 5s will help Africa achieve
close toof the UN Sustainable
Development Goals

 16.4 million people benefited from improvements in agriculture 3,100 km of feeder roads built or rehabilitated 16,500 ha of land with improved water management
 926 km of roads constructed, rehabilitated, or maintained
 1.4 million people benefited from investee projects, of whom 70% women 7,700 owner-operators and MSMEs got access to financial services
 356 km of cross-border roads constructed or rehabilitated 9.2 million people gained access to better transport services
 8.3 million people with new or improved access to water and sanitation
 170,000 people benefited from better access to education
 118,000 people trained, of whom 52% womenA STRONG FINANCIAL PROFILE

Aaa

CONSERVATIVE RISK MANAGEMENT POLICIESAAAAAAAAA• 0% risk weighted under Basel II• Level 1 under Basel III• Strong capitalization• Prudent financial and risk management policies• Excellent level of liquidity• Preferred creditor status• Extraordinary shareholder support

SUMMARY FINANCIAL STATEMENTS(in USD million)

2016

2017

2018

2019

2020

Assets39,963

46,392

46,96848,73650,912Loans

20,295

25,113

26,27427,40930,740Investments

14,237

16,408

14,574

14,274

21,958

Cash

1,861

1,353

2,870

2,949

3,359

Borrowings

27,75333,00533,36533,36536,137

Equity8,880

10,101

9,994

10,197

11,221

Paid-in Capital*

5,187

5,854

6,090

6,329

7,318

Reserves

3,693

4,247

3,903

3,868

4,116

Income before distributions

161

368

173

174

286

88,03593,27890,551

91,469145,246

Subscribed Capital

Note: Reporting currency is Special Drawing Rights (SDR) of the IMF. Data converted to
USD at period-end exchange rates SDRUSD: 1.34433 (2016); 1.42413 (2017); 1.39079(2018); 1.38283 (2019); 1.44027 (2020)*net of Cumulative Exchange Adjustment on Subscriptions

CreditRisk• Minimum rating requirement for investments (A) and swapcounterparties (A-)• Prudent framework of approved counterparties and exposurelimits• One-way CSA with all derivatives counterparties

Currency
Risk• Liabilities in a currency matched with assets in the same currency• Currency composition of net assets aligned with SDR basket

Liquidity
Risk• One-year liquidity available to cover net cash-flow
requirements without need to access additional resourcesfrom capital markets

InterestRate Risk

• Minimized by matching interest rate characteristics of assets
and liabilities

LENDING PORTFOLIO
The Bank’s risk appetite: Weighted Average Risk Rating (WARR) of thelending portfolio stable at “stronger” end of Bank’s target range of BB to B
(in USD million)

30,024
26,274

25,113
20,2952016

2017
Sovereign loans

2018
2019
Non-sovereign loans

2020

HIGH QUALITY INVESTMENT PORTFOLIO(as of 31 December 2020)

FUNDING OBJECTIVESThe Bank actively borrows from the capital markets to provide costeffective resources to fund clients and projects and to ensure it hassufficient liquidity to meet cashflow requirements for a one-year rolling
period.

A+ andbelow
10%

ANNUAL BORROWING PROGRAM (in USD billion)
2014 9.927,409

AA+ to AA36%
AAA
54%

10.4

9.8
8.0

2021*

6.22020

2019

2018

2017

2016

6.0

58.7%

35.2%

*31% executed as of May 2021

2021 SELECTED TRANSACTIONS
CNY 440 million 3-year Fixed Rate Note due January 2024

3.7%

2.3%

2015USD 6 million 2-year KES-Linked Fixed Rate Note due February 2023
JPY 1 billion 15-year "Integrate Africa'' Power Reverse Dual Currency
Note due February 2036
HKD 120 million 7-year "Feed Africa'' Fixed Rate Notedue February 2028
ZAR 435 million 7-year Fixed Rate Note due February 2028

Supras,Sovereigns,
Agencies

Coveredbonds

Timedeposits

0.1%

Corporate Asset-backedbonds
securities

CAPITAL MARKETS AWARDSUGX 18.5 billion Fixed Rate Note due March 2023
HKD 570 million 10-year Fixed Rate Note due March 2031
USD 2.5 billion 5-year Global Benchmark 0.875% due March 2026
AUD 40 million 7-year Kangaroo due August 2028
ZAR 75 million 4-year "Industrialize Africa'' Fixed Rate Note due
March 2025

2016SEK 1 billion 5-year Green Bond due April 2026

Social Bond ofthe year

Best issuer of
Covid-19 bonds

Top deal winner

NOK 1 billion 3-year
Social Bond dueApril 2022

USD 3.1 billion 3-year
Fight Covid-19 Social
Bond due April 2023

USD 6 million 2-year
KES-linked Fixed Rate
Note due February 2023

NOK 1 billion 5-year Social Bond due April 2026

Address Avenue Joseph Anoma 01 BP 1387 Abidjan 01, Côte d'Ivoire

Investor Relations fundingdesk@afdb.org

Website www.afdb.org