Africa: Development
Consortium of world banks makes progress in aid
A joint report has been released by a group of major banking
organisations, including the World Bank and prominent institutions from Africa, Asia, Europe and America which announces positive results in the adoption of ‘Managing for Development Results’ practices.
These have been created ‘to improve the design, implementation and evaluation of strategies and operations with a view to achieving relevant development results’, according to the African Development Bank Group.
In the report, The 2006 Multilateral Development Bank [MDB] Common Performance Assessment [COMPAS], information is published on how the banks conduct their business and organise themselves to ensure that positive results can be expected. The purpose is not to compare progress between banks but to establish a baseline against which individual organisations can judge their own progress and standards.
COMPAS is based on a systematic frameworks, says the African Bank release, for collecting consistent information relevant to each MDB. The 2006 report shows that they are becoming increasingly aware of the importance of results, through the medium of self – and independent evaluations.
For further details, visit the African Development Bank Group website at: www.afdb.org
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