The African Development Bank (AfDB) has improved its ranking to the 4th position amongst 45 development organizations covered in the 2018 Aid Transparency Index Report, released by Publish What you Fund.
The latest report showed that the continent’s development finance institution rose by six positions when compared with its ranking in 2016.
The bank in a release today stated that the improved ranking reflected its operational capabilities and the efficacy of its systems and processes, including a strict adherence to best-in-class reporting and disclosure of its programs, projects, aid and financial interventions.
The Aid Transparency Index has been the only independent measure of aid transparency in the world’s major development and humanitarian agencies. It calls for timely, accurate, comprehensive and proactive reporting and publication of all forms of aid and related development activities.
The index found that while organizations provide information on the objectives of their operations, only four DFIs – the Asian Development Bank, the Inter-American Development Bank, the World Bank and the African Development Bank – publish details or summaries of their pre-project impact appraisals, evaluations and review documents and results.
Commenting on the latest ranking of the bank in the report, the bank’s President, Dr. Akinwumi Adesina, said: “Proactive stakeholder relations and governance anchored on transparency are critical and at the heart of the impact-driven work that makes the African Development Bank Africa’s leading development finance institution.
“This latest ranking on the global aid transparency index reflects the Bank’s alignment to its strategic priorities and unwavering commitment to Africa’s development and transparency agenda”, Adesina added.
A signatory to the International Aid Transparency Initiative since April 2011, the Bank recently launched a new projects portal, publishing data according to IATI’s international standards on transparency, making information about its development spending easier to access, use and understand.
Open data supporters have endorsed the index, adopted by the United Nations, the African Union, the European Union, the United States government and other international and regional bodies.
The report points to a few challenges to the open data momentum, and these include the shrinking ‘civic space’ needed for citizens and CSOs to engage in decision-making.
In addition, increasingly scarce Official Development Assistance resources, and the changing development landscape pose a fresh set of fiscal, regulatory, technical and ethical challenges (and opportunities) for global transparency efforts.
Nearly all (93%) of the agencies in the index now publish their activities using the International Aid Transparency Initiative (IATI) Standard.