AsDB – non-sovereign
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The Asian Development Bank (AsDB) promotes resilience and sustainability across the Asia-Pacific region. Its non-sovereign portfolio provides non-concessional and concessional loans, equity investments, loan guarantees, grants, and technical assistance to the private sector in lower and middle-income countries. AsDB publishes to the IATI Standard. It was established in 1966.
AsDB had the third highest score in the non-sovereign assessment with 46.5 out of 100. It performed strongly for the Impact Management and ESG and Accountability to Communities components, coming second in both. The main reason AsDB did not score higher is because of format of publication. It did not score points for IATI publication due to the fact we were unable to identify five projects from our sample published to the IATI Registry. Also, its database did not provide a bulk export of data.
AsDB came seventh in the Core Information component, with 10.21 out of 20. Although AsDB disclosed data for sixteen of the seventeen indicators, one main reason it performed relatively poorly for this component compared to its overall score is because it did not pass IATI format for the relevant indicators. Its database also did not allow free, bulk export of data, meaning it also failed for this format of publication. However, it was one of three non-sovereign DFIs to score for sub-national location.
AsDB came second in the Impact Management component with a score of 16.25 out of 25. It was one of three non-sovereign DFIs to score for the activity indicators/metrics indicator. However, it did not score points for the results indicator. It was also one of five non-sovereign DFIs to consistently publish additionality statements.
AsDB came second in the ESG and Accountability to Communities component with 16.83 out of 30. It was the only non-sovereign DFI to consistently publish whether disclosure to communities was required for its projects, but did not consistently provide assurance that disclosure took place. It scored full points for all organisation-level indicators apart from independent accountability mechanism (IAM) community disclosure policy, which it failed.
AsDB scored 2 out of 15 in the Financial Information component, which was fourth best. It was the only non-sovereign DFI to score points for the details of co-financers. The only other project-level indicator it scored for was currency of investment.
AsDB scored 1.25 out of 10 in the Financial Intermediary (FI) Sub-investments component, similar to seven other non-sovereign DFIs. It only scored points on the FI (bank) use of funds indicator.
- AsDB should publish all investments to the IATI Standard in a timely manner.
- It should provide a free, bulk export of its investment database covering non-sovereign investments.
- AsDB should disclose further Core Information data points including client contact details, date of activity disclosure, signature date, and consistently disclose domicile of investees and disbursements.
- AsDB should review the exceptions articles in its access to information policy and include an objective harm test for confidentiality of information provided by third parties.
- AsDB should publish results for all investments, including baselines, target, and actuals.
- It should publish E&S documents for all investments, including the minimum documentation for higher risk projects.
- AsDB should provide assurance of community disclosure for investments when disclosure is required.
- It should create a policy guiding the disclosure of the presence of the IAM at community level.
- AsDB should publish financial information for all investments, including whether it is a repeat investment, concessionality, mobilisation data, interest rate, loan tenor, and length of guarantees.
- It should create policies for FI sub-investment disclosure and disclose sub-investments for both private equity fund and qualifying bank investments in line with Publish What You Fund’s DFI Transparency Tool.