London, 14 July 2022 (TDI): African Development Bank stood 1st in the Transparency Index published by ‘Publish What You Fund,’ a non-governmental organization spearheaded by Britain.
The index is the only transparent measure of aid transparency among the world’s major aid donors and is an essential part of global accountability for aid spending.
The African Development Bank’s Sovereign Portfolio ranks first out of 50 global development institutions in Publish What You Fund’s 2022 #AidTransparency Index.
— African Development Bank Group (@AfDB_Group) July 13, 2022
The Index groups donors into five categories based on their overall scores out of 100. It is published after every two years by Publish What You Fund.
It assesses data submitted to the International Aid Transparency Initiative by the world’s major aid agencies. In the year 2020 African Development Bank (AfDB) ranked 4th in the index.
This year, the Bank not only retained a very good category but also clinched the first spot as well. The African Development Bank has scored 98.5 points this year out of 100. In the year 2020, its score was 95.5.
The African Development Bank aims to provide peace, cooperation, and prosperity in the region. It aims to reduce poverty and end illiteracy. The Transparency Index is a great factor to look for development.
AfDB President, Dr. Akinwumi Adesina said “I am elated to learn of this outstanding recognition from Publish What You Fund.
It is a testament to the relentless efforts of the more than 2,000 personnel across our organization who work tirelessly to accelerate Africa’s progress.”
He added, “maintaining razor-sharp focus, they consistently deliver top quality under the highest levels of scrutiny. I am incredibly proud of them.
I commend Publish What You Fund for their important mission, combining robust research and technical expertise with targeted advocacy and engagement to make aid and development efforts more transparent and effective.”