The African Development Bank has been named the most transparent organization in the world by Publish What You Fund, a global campaign for aid and development transparency.
Publish What You Fund’s 2022 Aid Transparency Index, which was just released, places The Bank’s Sovereign Portfolio first out of 50 international development organizations with a perfect score of 98.5.
Dr. Akinwumi Adesina, president of the African Development Bank Group, stated: “I am thrilled to learn of this outstanding recognition from Publish What You Fund.
It is a testament to the tireless efforts of the more than 2,000 employees throughout our organization who put forth great effort to advance Africa.
Under the strictest scrutiny, they consistently deliver top quality while keeping a razor-sharp focus.
They have made me incredibly proud. In order to make aid and development efforts more transparent and efficient, Publish What You Fund combines in-depth research and technical know-how with focused advocacy and engagement.
“I am ecstatic with this score in an index that plays a key role in helping to promote openness and greater transparency among international agencies,” Senior Vice President Swazi Tshabalala said.
The Bank has made a concerted effort over the years to increase the transparency of its aid flows by offering reliable, accurate, and easily available statistics.
The fact that this is the sole way to run our development business has substantial ramifications for our top ranking in terms of people and financial resources.
The African Development Bank rose to the top spot from fourth place in 2020 thanks to the highest score in the Aid Transparency Index’s ten-year history.
Among the major international development organizations, the Index is the only independent indicator of aid transparency.
Since 2014, The Bank has constantly been rated as “very good.” Over the past ten years, it has continually shown that it is committed to increasing openness and that it has made tremendous strides in both of these areas.
The highest ranking of the five criteria used to rate an organization’s transparency is’very good’ for Publish What You Fund.
The ranking is determined by a number of factors. Finance and budgets, fundamental data, organizational planning, and performance are some of them.
In the 2022 Index, the non-sovereign portfolio of the African Development Bank was evaluated for the first time and individually.
The Bank ranks as the second-most transparent provider of non-sovereign development financing.
Among the 50 organizations involved in international development, its non-sovereign portfolio is placed 12th.
Transparency in development has faced a number of difficult challenges during the past year.
More and better development financing is needed than ever to support achieving ambitious global goals like the UN Sustainable Development Goals and the Bank’s High 5 operating priorities.
This is particularly true when significant financial resources are devoted to fighting the Covid-19 epidemic.
Release the Funding “We congratulate the African Development Bank’s sovereign portfolio for obtaining first place in the 2022 Aid Transparency Index,” Chief Executive Gary Foster stated.
The AfDB has been working to comprehend the needs of the Index for many years. After doing so, they redesigned their disclosure strategy and started posting more thorough, higher-quality data.
This has been made feasible because of their technical staff’s work and the organization’s top leadership’s dedication to promoting transparency.
Transparency is more than just a buzzword for the African Development Bank; it supports ongoing accountability and reliable access to pertinent Bank data.
Through the institution’s MapAfrica portal, for instance, stakeholders can learn how the Bank is assisting Africa in meeting its infrastructure and energy demands.
The African Development Bank has also created a Projects Data Portal to provide data in an accessible manner.