Abidjan, Cote d’Ivoire – The global campaign for aid and development transparency says the African Development Bank’s sovereign portfolio is again the most transparent.
The bank’s portfolio emerged first out of 50 global development institutions with a top score of 98.8 in its 2024 Aid Transparency Index, released on Tuesday.
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 a second time running, the result highlighted the Bank’s continued effort and prioritization 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 (DFIs).
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. 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,” said Dr. Akinwumi Adesina, President of the Bank.
“This 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 organization in the world for the second consecutive time, is simply extraordinary.
transparency, meaningful involvement with the Aid Transparency Index process, and pro-active engagement with the IATI community,” said Publish What You Fund’s CEO Gary Forster.
“AfDB has demonstrated that progress can be made swiftly and effectively by adhering to best practices and ensuring the availability of information.
“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,” said Forster.
This year’s Index focuses on the prominence of development finance institutions as vehicles for international aid.
“The ongoing Multilateral Development Bank (MDB) reform agenda promises to increase resources, allow higher risk investments, streamline business processes and improve coordination between banks.
“In most cases, the growth of the banks will be from greater borrowing on the capital markets rather than use of aid money,” the report said.
The African Development Bank’s non-sovereign portfolio was assessed for the second time and separately in the 2024 Index.
Its non-sovereign portfolio ranked 13th among the 50 global development institutions under comparison.
The 2024 Index assesses six sovereign (public sector) portfolios and six non-sovereign (private sector) portfolios of development finance institutions (DFIs).
