A new donation of $2.2 million by Norway to transparency and integrity through a three-year contribution to support institutional and regulatory reform for the region
The Transparency Fund is the main tool of the Inter-American Development Bank’s (IDB) to support its member countries in developing and implementing transparency and integrity reforms. The Government of Norway is one of the founding members of the (IDB) Transparency Fund (AAF). Since its inception in 2007, the AAF supports institutional and regulatory reforms to enhance transparency and integrity through the alignment with international standards, targeted transparency and use of innovation and technology.
In 2019, Norway confirmed a new donation on $2.2M over the period 2019-2021. Norway not only granted the initial $5M contribution to the Fund in 2007, but also has subsequently made three additional donations in 2012, 2013, and 2018 amounting to approximately $13.5 million. In addition to its monetary contributions, Norway has provided a strategic vision for promoting transparency and integrity, such as in areas of financial and fiscal transparency and the governance of public resources.
The Transparency Fund financed 69 technical assistance projects worth over $24 million, benefiting 26 LAC countries. These technical assistance projects have helped design and implement 19 loan operations on transparency, integrity and anti-corruption worth $1.73 billion. The projects have supported access to information, open government, natural resource management, fiscal and financial transparency reforms. The Fund actively works with integrity agencies, including ethics offices, supreme audit institutions and financial integrity units.
Among other results, these programs promoted fiscal and financial transparency reforms by helping IDB member countries implement OECD and FATF standards. Another area where the AAF shows promising results is the use of information technologies for transparency and traceability of public investments with Mapainversiones in Paraguay and Costa Rica, for example, and resources from the extractive sector like Colombia or Peru.
The Fund invests considerable efforts in promoting knowledge and dissemination on transparency and integrity. Knowledge products represent an entry point to motivate policy dialogue. Recent publications include the Report of the Expert Advisory Group on Anti-Corruption Transparency and Integrity and the Beneficial Ownership Implementation Toolkit.
The Transparency Fund is also supported by the government of Canada, Sweden and Italy. The IDB also contributed with a donation to the Fund in 2011.
About the IDB
The Inter-American Development Bank is devoted to improving lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides policy advice, technical assistance and training to public and private sector clients throughout the region.