The African Development Bank has been named the most transparent organization in the world by Publish What You Fund

The 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, just released, ranks 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, said: “I am delighted to hear of this outstanding recognition from Publish What You Fund.

This is a testament to the tireless efforts of over 2,000 employees in our organization who have gone to great lengths to move Africa forward.

Subjected to the strictest scrutiny, they consistently deliver superior quality while maintaining precise focus.

They made me incredibly proud. To make aid and development efforts more transparent and effective, Publish What You Fund combines in-depth research and technical know-how with targeted advocacy and engagement.

“I am delighted with this score in an index that plays a key role in helping to promote openness and greater transparency among international agencies,” said Senior Vice President Swazi Tshabalala.

The Bank has made a concerted effort over the years to increase the transparency of its aid flows by providing reliable, accurate and readily available statistics.

The fact that this is the only way to manage our development activity has important ramifications for our ranking in terms of personnel and financial resources.

The African Development Bank has risen to first place from fourth place in 2020 thanks to the highest score in the Aid Transparency Index’s ten-year history.

Among the major international development organisations, the index is the only independent indicator of aid transparency.

Since 2014, the Bank has consistently been rated “very good”. Over the past ten years, it has consistently demonstrated its desire to increase its openness and to have made enormous progress in these two areas.

The highest ranking of the five criteria used to assess an organization’s transparency is “very good” for Publish What You Fund.

The ranking is determined by a number of factors. Finances and budgets, fundamentals, organizational planning and performance are among them.

In the 2022 index, the non-sovereign portfolio of the African Development Bank was assessed for the first time and individually.

The Bank ranks second among the most transparent providers of non-sovereign development finance.

Among the 50 organizations involved in international development, its non-sovereign portfolio ranks 12th.

Development transparency has faced a number of difficult challenges over the past year.

More and better development finance is needed more than ever to support the achievement of ambitious global goals such as the United Nations Sustainable Development Goals and the Bank’s 5 Operational Priorities.

This is particularly true when significant financial resources are devoted to the fight against the Covid-19 epidemic.

“We congratulate the African Development Bank’s Sovereign Portfolio for earning the top spot in the 2022 Aid Transparency Index,” said Managing Director Gary Foster.

The AfDB has been working to understand the needs of the index for many years. After that, they redesigned their disclosure strategy and started releasing more comprehensive and higher quality data.

This was made possible through the hard work of their technical staff and the dedication of the organization’s senior management to promote transparency.

Transparency is more than just a buzzword for the African Development Bank; it supports continued accountability and reliable access to relevant Bank data.

Through the institution’s MapAfrica portal, for example, stakeholders can find out how the Bank is helping Africa meet its infrastructure and energy needs.

The African Development Bank has also created a project data portal to provide data in an accessible manner.

↯↯↯Read more on the subject on TDPel Media ↯↯↯

Aubrey L. Morgan