AfDB tops global transparency index for second year

The African Development Bank’s sovereign portfolio has been recognised once again as the most transparent among global development institutions, achieving a top score of 98.8 in the 2024 Aid Transparency Index released on Tuesday.

The Bank’s sovereign portfolio rose four places from 2022 to lead the Index, setting a benchmark for high-quality data publication.

This marks the second consecutive year the Bank has topped the Index, underscoring its ongoing commitment to transparency and data excellence.

According to the President of the African Development Bank, Dr Akinwumi Adesina, the 2024 Index assesses six sovereign and six non-sovereign portfolios of development finance institutions.

Adesina emphasised, “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 from Publish What You Fund,” Adesina added. “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.”

The Chief Executive Officer, Publish What You Fund, Gary Forster, commended the AfDB for its detailed publication of project objectives, impact appraisal documents, environmental studies, and evaluation reports in both French and English.

Forster highlighted, “We congratulate the African Development Bank as it continues to lead the Aid Transparency Index with its sovereign portfolio. This is the result of a persistent focus on transparency, meaningful involvement with the Aid Transparency Index process, and proactive engagement with the IATI community.”

The 2024 Index underscores the growing role of development finance institutions as crucial vehicles for international aid amidst ongoing reforms and increased capital market borrowing.

In addition to its sovereign portfolio, the AfDB’s non-sovereign portfolio was separately assessed in the 2024 Index, ranking 13th among the 50 global development institutions compared.