Development banks more and more efficient

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Six major multilateral development banks (MDBs) have released the third report of their Common Performance Assessment System (COMPAS), a statement by the African Development Bank (AfDB) received in Accra.

The statement identified the banks as African Development Bank (AfDB), the Asian Development Bank (AsDB), the European Bank for Reconstruction and Development (EBRD), the Inter-American Development Bank (IADB), the Islamic Development Bank (IsDB), and the World Bank.

The statement said the publication marked the consolidation of a process that began almost three years ago when the first such report was made public.

It said the six MDBs collectively played a major role in the international development finance architecture.

The statement said the 2007 COMPAS report aimed to provide information on progress that these MDBs had made on a spectrum of key performance indicators.

“These indicators were defined by the MDBs based on relevance to their efforts to strengthen the results orientation of their respective operations.”

Ferdinand Bakoup, Lead Economist at the African Development Bank Group and coordinator of the report, stated: “The 2007 COMPAS report shows that since the public ation of the 2006 report, MDBs have improved on their efforts to manage for development results, both collectively and individually.

“MDBs are making progress in assessing and strengthening the managing for-develo pment-results capacity of borrowing member countries; strengthening their focus on results in the design and implementation of projects and country strategies; and harmonizing their policies and procedures.”

It said this was the first time that the COMPAS report includes information on the private sector operations of MDBs.

|The report also shows that the efforts of MDBs to strengthen results orientation in their operations are also extending to their private sector activities,” the statement added. Panapress.

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