AfDB Ranked Most Transparent Development Institution for Second Consecutive Year
Key Nigerian oil refineries are preparing to resume operations in August, enhancing energy output and supporting economic development.
The African Development Bank (AfDB) has been ranked the most transparent development institution in the 2024 Aid Transparency Index by Publish What You Fund, marking the second consecutive year in which it has achieved this recognition. The organization’s sovereign portfolio topped the list of 50 global development institutions with a score of 98.8, demonstrating its commitment to providing top-quality data about its operations. The report praised the AfDB for its detailed publication of project objectives, impact appraisal documents, environmental studies, and evaluation reports. In a statement acknowledging the ranking, AfDB President Akinwumi Adesina highlighted the significance of this achievement, noting the Bank’s commitment to high-quality, accessible data despite stricter assessment standards. Besides the AfDB, two other development finance institutions, InterAmerican Development Bank and the World Bank’s International Development Association, made the ranking’s top five most transparent institutions.
SOURCE: PUNCH