AFRICA — The African Development Bank (AfDB) has emerged 4th best institution globally on aid transparency in the latest ranking released by Publish What You Fund.

AfDB’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.

The Publish What You Fund Index which has been produced each year since 2011, is the only independent measure of aid transparency among the world’s 47 major development agencies.

The ranking is based on several criteria, including finance and budgets, basic information data, organisational planning and performance.

Publish What You Fund ranked the AfDB ‘very good’ — The highest of the five categories used to assess organisations’ transparency.

The ranking places the Africa Development Bank in the highest category of transparency along with other world class institutions such as the World Bank, the Asian Development Bank and UNDP.

“We congratulate the African Development Bank – Sovereign Portfolio on achieving 4th place in the 2020 Aid Transparency Index,” said Gary Forster, CEO of Publish What You Fund.

“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,” Forster added.

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 Publish What You Fund Index, which covers the year 2019, the African Development Bank scored 95.5 out of 100 on transparency — A significant improvement on its score for 2018.

“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,” Forster explained.

Forster further noted that, “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.”

“I am absolutely delighted with this achievement!” said Swazi Tshabalala, Acting Senior Vice President for the African Development Bank Group.

“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 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 African Development Bank contributes to the economic development and the social progress of its 54 regional member states.

Liked this article? Subscribe to DealStreet Africa News, our regular email newsletter with the latest news, deals and insights from Africa’s business, economy and more. SUBSCRIBE HERE