OMOTAYO ARAOYE
African Development Bank (AfDB), has ranked fourth out of 47 global development institutions on “Publish What You Fund”, a global campaign for aid transparency Index.
The new rank has placed the bank in the highest category of transparency along with other world class institutions such as the World Bank, the Asian Development Bank and UNDP.
Publish What You Fund, produces the index each year since 2011 and is the only independent measure of aid transparency among the world’s major development agencies.
According to the Chief Executive Officer of Publish What You Fund, Gary Forster, he said, “We congratulate the African Development Bank – Sovereign Portfolio on achieving 4th place in the 2020 Aid Transparency Index. As large quantities of aid are being reallocated to deal with the COVID-19 emergency, the transparency of international aid is more important than ever,”.
Publish What You Fund ranked the Bank ‘very good’ — The highest of the five categories used to assess organisations’ transparency. The ranking is based on several criteria, including finance and budgets, basic information data, organisational planning and performance.
Funding now being assigned to combat Covid-19 pandemic, it is crucial for our citizens to know how much, where and when AfDB is investing in Africa’s development
In the new Index, which covers the 2019 year, the African Development Bank scored 95.5 out of 100 on transparency — A significant improvement on its score for 2018.
Forster further stated, “It is promising to see an increase in the quantity, quality and timeliness of aid data now being shared by a broad cross section of the world’s major aid agencies. As we work together to fill the gaps in the aid data landscape, we look forward to exploring how we can best meet the demand for data and data engagement,”
The institution’s commitment to total transparency is illustrated by MapAfrica. A web based platform that maps all of the Bank’s investments across the African continent.
Acting Senior Vice President for the African Development Bank Group, Swazi Tshabalala, said, “I am absolutely delighted with this achievement!. “It crowns this institution’s commitment to transparency at a time when it has never been so important. With such large volumes of funding now being assigned to combat the Covid-19 pandemic, it is crucial for our citizens to know how much, where and when the African Development Bank is investing in Africa’s development.”
The African Development Bank Group (www.AfDB.org) is Africa’s premier development finance institution.
It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states.
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