By Staff Reporter
China has been viewed as one of the least performing states in the aid transparency Index, a seventh edition of the 14 year old aid and transparency campaign coordinated by publish what you fund to promote effective decision making and public accountability through availing standard data on aid.
The report noted China’s continued rock bottom performance as a major setback for Africa’s growing finance partner as other multilateral partners and newcomers were fairing better.
“We continue to see China MOFCOM, UAE MOFAIC and Turkey TIKA at the bottom of the rankings. Their current absence from the global aid dataset is a significant gap.” The report highlighted.
However, “At the top of the rankings there were notable risers and fallers. African Development Bank (AfDB) Sovereign Portfolio climbed four places in the ranking to top the Index, setting the standard for High-quality data publication. UN OCHA was ranked ‘very good’ for the first time, increasing almost 12 points from the last assessment. Asian Development Bank (AsDB) – Non-Sovereign Portfolio,Assessed for the first time, scored at the bottom of ‘very good’.”
The index was calculated considering over one hundred and forty thousand aid activities amounting close to quarter a trillion US$ with the increase due to the global demands on aid by the COVID pandemic.
“Organisations assessed in the 2022 Index published a total of 147,319 aid activities that were current in 2021 and included transaction data totalling US$221.7bn in commitments and US$154.6bn In disbursements and expenditure over the course of the year.”
Furthermore, “According to the latest figures from the OECD, total official development assistance (ODA) reached Its highest recorded level in 2021 (US$179bn) up by 4.1% (US$7bn) from 2020. However, much of this Increase is accounted for by the donation of COVID-19 vaccines to ODA eligible countries, which were Valued at US$6.6bn. Total ODA spending on COVID-19 related activities was US$18.7bn.”
The report noted how COVID 19 had exacerbated the financial volatility on the market and the general populace as public debt continued to sour above government revenues.
“Central banks are beginning to raise interest rates, in response to inflation. This will exacerbate the existing developing country debt crisis. Prior to the COVID-19 pandemic, levels of public debt in low and middle-income countries were already worryingly high. Government borrowing to pay for the pandemic response has pushed debt levels even higher. In early 2022 these stood at the equivalent of more than 250% of government revenue.” The report said.
With China argued to be a growing funder of African projects their continued lack of information on funded projects continually exposes the double standards in their fair trade and aid practice as Aid transparency indexing continually gathers clarity.
“We continue to see China MOFCOM, UAE MOFAIC and Turkey TIKA at the bottom of the rankings. These organisations are not publishing standardised data and are making limited information available through their websites. We hope they are able to publish standardised data about their Ongoing activities in the near future since their current absence from the global aid dataset is a significant gap.” The report alluded.
Furthermore, “Transparency continues to have an important role to improve the quality and effectiveness of aid. Tracking what aid is going where can feed into government and donor planning processes, helping to coordinate efforts, meet identified needs and reduce duplication. Tracking aid flows can also help to show the extent to which aid donors are meeting their commitments, and identify where aid and other international flows overlap.” The report highlighted.
According to the report, “The Index scores major aid organisations against 35 indicators, each corresponding to the availability and accessibility of a particular type of information. We assess five components of transparency: Organisational planning and commitments, Finance and budgets, Project attributes, Joining-up Development data and Performance. We weight the scores awarded for each indicator based on the Perceived importance of the information for users of the data, and a total of 100 points is available.”
China’s continued growth on the global economic and development market against the reportage of the Eastern nation’s human rights abuse, profiteering and duping African countries of resources when coupled by poor aid reporting standards potentially expose the country as only potentially holding individualistic interests in the developing world