By Judith Ugwumadu | 10 January 2014

The African Development Bank has adopted a four-year corporate management tool that imposes annual targets to help the institution meet its development goals and provide value for money.

In Tunis yesterday, the AfDB board approved the Results Measurement Framework for the period 2013-2016. It has been designed to give periodic information about the bank’s performance toward programmed results and prompt timely corrective actions.

‘The RMF brings together evidence of AfDB’s strengths and weaknesses, so it can take appropriate actions to better implement its ten-year strategy for 2013-2022,’ said Simon Mizrahi, director of the bank’s department for quality and results.

He added that the framework would focus attention on five key areas, including value for money. Mizrahi said value for money was central to the bank’s development mandate and ‘means ensuring that every dollar the AfDB invests delivers the greatest value for its clients’.

Other key areas include: the bank’s strategic focus, in particular the goals of inclusive growth and green growth; better assessment of its development impact; a stronger focus on gender.