IDB to join International Aid Transparency Initiative

IATI signing is part of Bank’s efforts to improve transparency

The Inter-American Development Bank (IDB) will become a signatory to IATI, the International Aid Transparency Initiative, a voluntary, multi-stakeholder effort to make information about aid spending easier to find, use and compare, the bank announced today.

IATI, launched in 2008, brings together information from donor countries, developing country governments, non-governmental organizations and experts in aid within a common, open, international standard for publishing more and better information about their activities.

“Improving transparency helps countries manage resources more effectively, and that makes better use of every dollar when fighting poverty and reducing inequality,” said IDB Executive Vice-President Julie T. Katzman. The Bank’s membership will be formalized in a signing ceremony Nov. 29 at the Fourth High Level Forum on Aid Effectiveness in Busan, Korea.

In the past two years, the IDB has made important strides in improving its institutional transparency, implementing a more comprehensive access to information policy, building a new Independent Consultation and Investigative Mechanism, and publishing an annual Development Effectiveness Overview.

“We recognize that credible and timely information is essential to deliver the knowledge and lessons from our development programs. Joining IATI is the next step in enhancing our access to information for the multiple stakeholders of our work in the region and beyond,” Katzman said.