The African Development Bank, AfDB, says it has approved a 70 million dollar loan for a road project in Ebonyi. The bank said on its website on Friday that it would provide $40 million, while its co-financier, the Africa Growing Together Fund (AGTF), would contribute $30 million for the project.

A global campaign for aid and development transparency, Publish What You Fund, has ranked the African Development Bank (AfDB) fourth on its Aid transparency index (ATI).

According to a statement by Emeka Anuforo, a media relations officer with the bank, 47 global development institutions were considered in the ranking.

The Asian Development Bank was ranked first with the International Development Association of the World Bank and the United Nations Development Programme (UNDP) occupying the second and third positions.

“We congratulate the African Development Bank – Sovereign Portfolio on achieving fourth place in the 2020 Aid Transparency Index,” Gary Forster, CEO of Publish What You Fund, said.

“As large quantities of aid are being reallocated to deal with the COVID-19 emergency, the transparency of international aid is more important than ever.”


The index was conducted between December 2019 and April 2020; focusing on 35 indicators.

The indicators were grouped into five components: finance and budgets; joining-up development data; organisational planning and commitments; project attributes; and performance.

The AfDB scored 95.5 points out of 100 from 88.4 points in 2018.

Reacting to the ranking, Swazi Tshabalala, acting senior vice president of AfDB, said: “I am absolutely delighted with this achievement. It crowns this institution’s commitment to transparency at a time when it has never been so important”.

“With such large volumes of funding now being assigned to combat the COVID-19 pandemic, it is crucial for our citizens to know how much, where and when the African Development Bank is investing in Africa’s development.”

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