The AfDB (African Development Bank) has been ranked fourth out of 47 global development institutions on Publish What You Fund’s Global Transparency Index.
Publish What You Fund ranked the Bank’ very good’, which is the highest of the five categories used to assess organizations’ transparency. The ranking is based on several criteria, which include finance and budgets, basic information data, organizational planning, and performance.
In the new Index, which covers the 2019 year, the African Development Bank scored 95.5 out of 100 on transparency, a significant improvement in its score from 2018.
The Index places the Bank in the highest category of transparency and other world-class institutions, including the World Bank, the Asian Development Bank, and UNDP.
Last week, the S&P Global Ratings agency affirmed its ‘AAA/A-1+’ long- and short-term issuer credit assessment of the AfDB (African Development Bank) with a stable outlook.
The rating agency positively assessed AfDB’s strong funding, very strong capital adequacy, extraordinary shareholder support, and adequacy of its governance and management.
Furthermore, S&P Global noted the Bank’s $115 billion (KSh12.2 trillion) capital increase, which was approved by shareholders in October 2019, and its replenishment to its concessional window, the African Development Fund, in December 2019.