ADDIS ABABA – The African Development Bank (AfDB) has been named the most transparent organization in the world by the Publish What You Fund (PWYF), a global campaign for aid and development transparency.
With a top score of 98.5, AfDB’s Sovereign Portfolio now ranks first out of 50 global development institutions in the 2022 Aid Transparency Index published on Wednesday.
AfDB Group President Akinwumi Adesina was “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,” the President said in a statement the Bank issued on the same day.
“Maintaining razor-sharp focus, they consistently deliver top quality under the highest levels of scrutiny. I am incredibly proud of them,” he added.
The Aid Transparency Index is the only independent measure of aid transparency among the world’s major development agencies.
The Index tracks and measures donors’ progress toward transparency and incentivizes these organizations to progressively increase and improve the aid and development information made available.
The African Development Bank achieved the highest score in the Aid Transparency Index’s ten-year history and moved into the top spot from its fourth-place ranking in 2020. It has also remained consistently in the ‘very good’ category since 2014.
Publish What You Fund’s ‘very good’ status is the highest of the five categories used to assess organizations’ transparency, according to the AfDB.
The ranking is based on several criteria including finance and budgets, basic information data, organizational planning, and performance.
AfDB’s non-sovereign portfolio was assessed for the first time and separately in the 2022 Index, and ranked 12th among the 50 global development institutions under comparison.