A global campaign for aid and development transparency has once again named the African Development Bank’s sovereign portfolio as the most transparent.
The portfolio emerged first out of 50 global development institutions, with a top score of 98,8 in the ‘Publish What You Fund 2024 Aid Transparency Index’, which was released yesterday.
The bank’s sovereign portfolio climbed four places in the ranking in 2022 to top the index, setting the standard for high-quality data publication.
For the second time running, the result highlights the bank’s continued effort and prioritisation of good quality data publication.
The Aid Transparency Index has tracked the transparency of the largest international aid organisations over the last 12 years.
The 2024 index assesses six sovereign (public sector) portfolios and six non-sovereign (private sector) portfolios of development finance institutions.
The sovereign portfolios of development finance institutions occupy three of the top five positions in the ranking, with the African Development Bank coming first, the InterAmerican Development Bank second, and World Bank International Development Association fourth.
“I am delighted by this recognition from Publish What You Fund. It is a testament once again to the commitment of the bank’s board, management and staff to continuously improve the disclosure of aid flows by providing consistent, high-quality, and easily accessible data,” AfDB president Akinwumi Adesina says.
He says the achievement is especially significant given the new, more rigorous assessment standards and transparency requirements for development financial institutions.
“The rating of our sovereign portfolio as the most transparent development organisation in the world for the second consecutive time is simply extraordinary.
“I commend Publish What You Fund for the vital and much-needed work it does in making aid and development efforts more transparent and effective,” Adesina says.
Topping the 2024 index, the AfDB’s sovereign portfolio demonstrated its commitment to publishing very good, high-quality data about its activities, the report states.
It used as an example data published about the Zambia-Lusaka Sanitation Programme – Climate Resilient Sustainable Infrastructure Project.
The report commended the bank for detailed publication of project objectives, impact appraisal documents, environmental studies and evaluation reports – a total of over 29 documents in both French and English.
“We congratulate the African Development Bank as it continues to lead the Aid Transparency Index with its sovereign portfolio.
“This is the result of a persistent focus on transparency, meaningful involvement with the Aid Transparency Index process, and proactive engagement with the International Aid Transparency Initiative community,” says Publish What You Fund’s chief executive Gary Forster.
Forster says the AfDB has demonstrated that progress can be made swiftly and effectively by adhering to best practices and ensuring the availability of information.
“The AfDB’s desire to provide useful and timely data doesn’t end with what we measure in the index. We’re also impressed by their investment in Map Africa – a portal which helps stakeholders locate and learn about individual projects,” he says.
This year’s index focuses on the prominence of development finance institutions as vehicles for international aid.
The report says the ongoing Multilateral Development Bank reform agenda promises to increase resources, allow higher risk investments, streamline business processes, and improve coordination between banks. – APO Group
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