The global campaign for aid and development transparency has named the African Development Bank (AfDB) as the most transparent development financial institution in the world.
Publish What You Fund 2022 Aid Transparency Index findings released on Thursday, scored the bank 98.5 per cent, just as its sovereign portfolio now ranks first among 50 global development institutions.
Responding to the development, Group President of AfDB, Dr. Akinwunmi Adesina, said: “I am elated to learn about this outstanding recognition from Publish What You Fund. It is a testament to the relentless efforts of the over 2,000 personnel across our organisation, who work to accelerate Africa’s progress maintaining razor-sharp focus, they consistently deliver top quality under the highest scrutiny.
“I am incredibly proud of Publish What You Fund for its important mission, combining robust research and technical expertise with targeted advocacy and engagement to make aid and development efforts more transparent and effective.”
On his part, Senior Vice President of the bank, Swazi Tshabalala said: “I am absolutely delighted with this score, as it helps promote openness and greater transparency.
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“The bank has worked hard over the years to improve the disclosure of its aid flows by providing consistent high quality easy accessible data. Our top ranking has significant human and financial resource implications as this is the only way to conduct our development businesses.”
The AfDB achieved the highest score in the Aid Transparency Index’s ten-year history and evolved into the top sport from its fourth place ranking in 2020. The index is the only independent measure of aid transparently among the world’s major development agencies.
It has remained consistently in the good category. Since 2014, it has consistently demonstrated commitment to increased transparency and its extraordinary progress in past over 10 years in providing high-quality information and becoming more transparent.
Its non-sovereign portfolio was assessed for the first time and separately in the 2022 index and is the second most transparent development finance institution in handling non-sovereign operations.
The bank’s non-sovereign portfolio is ranked 12th among the 50 global development institutions under comparison.
Also responding, Chief Executive of Publish What You Fund, Garry Foster said: “We congratulate the AfDB Sovereign Portfolio for achieving first place in 2022 Aid Transparency Index. For several years now, the AfDB has engaged to understand the demand of the index, re-engineered its approach to disclosure accordingly and publishing more comprehensive, higher quality data.
“This has been made possible because the efforts of their technical staff are matched by commitment to aid transparency from the highest levels of the organizations and for the AfDB, transparency is more than a watchword, it contributes to relevant bank information.
“Stakeholders can find out how the bank is helping Africa to meet its energy and infrastructure needs through the institution’s Map Africa platform in addition, the AfDB has designed a projects portal to present easily accessible data.”
