The African Development Bank will improve its transparency and accountability, decentralization, and use of country systems under a new road map for boosting the effectiveness of the bank’s lending.
“By adopting this roadmap, we at the AfDB have declared our commitment to development that reaches beyond the surface―development that strengthens and does not displace domestic capacity, and that builds up and does not replace domestic sources of finance,” Thomas Hurley, AfDB’s director for quality assurance and results, said in a statement.
Under the new road map, the bank plans to disburse its financing more predictably, and disclose actual and planned resource flows more promptly and transparently.
AfDB also pledged to expand the use of country systems and speed up its decentralization efforts to allow its field offices to better align programs to countries’ priorities and systems.
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