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AfDB Strengthens Openness Under the International Aid Transparency Initiative
The African Development Bank Group (AfDB) launched on 1 July 2013 in Tunis, Tunisia its data in line with the International Aid Transparency Initiative (IATI) standard.
The decision reflects the AfDB’s commitment to transparency and accountability in the use of its resources. The published data covers a wide range of information on the Bank’s public and private sector projects. The AfDB is the world’s first multilateral development bank to provide private sector and precise geocoding data through IATI.
The AfDB became the 19th signatory to IATI on 14th April 2011. IATI is a voluntary initiative that seeks to improve the transparency of aid in order to increase its effectiveness in the fight against poverty. It brings together donors and developing countries, civil society organizations and experts determined increase the transparency of aid. IATI also provides a common standard for the publication of aid information.
The standard is designed to ensure data on aid is timely, comprehensive, accessible and comparable. These are all crucial, as only then can donor aid spending be mapped and properly aligned with the recipient country’s domestic budget.
“The International Aid Transparency Initiative (IATI) has the potential to transform the way aid is managed, ” said AfDB President Donald Kaberuka
The AfDB will also use IATI to further the implementation of its new Disclosure and Access to Information Policy. The policy is aimed at broadening public access to the Bank’s information. The policy commits the Bank to carrying out its development activities in an open and transparent manner. It is based on the principles of good governance, particularly transparency, accountability and sharing of information on its operations.
The Bank’s transparency agenda aims at empowering people on the ground with the information they need to follow the money, drive results and to scrutinize and make better decision in their dealings with the AfDB. Transparent information on aid is fundamental for democratic ownership and accountability. It enables citizens and their representatives to monitor public spending and hold their governments and partners to account.