The African Development Bank Group (AfDB) has become the first multilateral development bank to publish private sector and geocoded aid data to the International Aid Transparency Initiative (IATI).
The AfDB became the 19th signatory to IATI in 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 International Aid Transparency Initiative (IATI) has the potential to transform the way aid is managed, ” said AfDB President Donald Kaberuka.
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 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.