The African Development Bank’s (AfDB) sovereign portfolio has been recognised as the most transparent in the 2024 Aid Transparency Index, published by the global campaign for aid and development transparency, Publish What You Fund.
This marked the second consecutive year the AfDB’s sovereign portfolio has secured the top position among 50 global development institutions, achieving an impressive score of 98.8.
The bank’s sovereign portfolio rose four places in the 2022 rankings to claim the top spot, demonstrating its commitment to high-quality data publication.
AfDB in a statement noted that the accolade underscored its ongoing efforts to prioritise and maintain superior standards in data transparency.
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.
President of the African Development Bank, Dr. Akinwumi Adesina, said: “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.
“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 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 said.
Nume Ekeghe