Why is the World Bank a target?

The World Bank is one of the world’s most influential donors providing over $24 billion per year to developing and transition countries. Not a bank in the conventional sense, it is owned by 186 member countries and is formed of two development institutions – the International Development Assocation (IDA) and the International Bank for Reconstruction and Development (IBRD).

The IDA focuses on providing assistance to the poorest countries while the IBRD looks to reduce poverty in middle-income countries. As such a significant donor, and as a representative of its 186 member countries, the Bank indirectly sets an example to other donors as to how to behave. It has the power to influence the trends and approaches that other donors adopt. It also provides advice to recipients on how to improve their own standards of reporting and integrity and so has the potential to bring about positive change from both donors and recipients of aid. Historically, the Bank has been one of the best donors in terms of their own transparency and introduced ‘presumption in favour of disclosure’ in 1985. The bank has revisited and revised its disclosure policy since that time and has recently released its newest policy ‘Toward Greater Transparency Through Access to Information’, making some significant and welcome steps.

However, there remain large gaps in the information the Bank proposes to make available and more steps that can be taken in order that it reflects our principles and the requirements of the International Aid Transparency Initiative (IATI).

What do we want?

The Bank’s current disclosure policy is proffered as a response to a growing public interest in openness. We want the Bank to embrace its responsibility as a dominant force in aid and champion aid transparency with its donors, rather than responding piecemeal to changes in the public consciousness. We see this review of its policy as an opportunity for the Bank to implement an international standard and lead the aid transparency agenda.
 
The Bank also needs to recognise its commitments to IATI and update its policy as the standards are finalised and agreed. In addition, as a holder of huge quantities of relevant information relating to aid, and the sophisticated management systems it possesses, it is ideally placed to play a useful and practical role in testing the transparency standards under discussion. It should agree to disclose information at a country level to the IATI registry as a pilot and, in doing so, make a move toward the longer term goal of leading the field in aid transparency.

How are we doing this?

We work closely with the existing efforts of the Bank Information Center (BIC). The BIC works to influence the Bank and other international finance institutions to promote social and economic justice and sustainability.