THE African Development Bank (AfDB) has been ranked fourth among 45 development organisations in the 2018 Global Aid Transparency Index.The regional bank was ranked sixth in 2016.
The Aid Transparency Index, published by UK-based think tank “Publish What You Fund”, is the only independent measure of aid transparency in the world’s major development and humanitarian agencies. It calls for timely, accurate, comprehensive and proactive reporting and publication of all forms of aid and related development activities.
In a statement released on its website, the bank said improved rankings reflect its operational capabilities and the efficacy of its systems and processes, including strict adherence to best-in-class reporting and disclosure of its programmes, projects, aid and financial interventions.
“The index found that while organisations provide information on the objectives of their operations, only four DFIs — the Asian Development Bank, the Inter-American Development Bank, the World Bank and the African Development Bank — publish details or summaries of their pre-project impact appraisals, evaluations and review documents and results,” read the statement.
According to African Development Bank president Dr Akinwumi Adesina, proactive stakeholder relations and governance anchored on transparency are critical and at the heart of the impact-driven work that makes the African Development Bank Africa’s leading development finance institution.
“This latest ranking on the global aid transparency index reflects the Bank’s alignment to its strategic priorities and unwavering commitment to Africa’s development and transparency agenda,” said Dr Adesina
A signatory to the International Aid Transparency Initiative (IATI) since April 2011, AFDB recently launched a new projects portal, publishing data according to IATI’s international standards on transparency, making information about its development spending easier to access, use and understand.