Publish What You Fund and CAF – Development Bank of Latin America and the Caribbean – have announced the launch of a new initiative to assess and enhance transparency across public development banks in Latin America and the Caribbean. This project will engage a select group of public development banks throughout the region, to improve the disclosure of information relating to their institution and the projects they finance.

In addition to regional multilateral development banks, Latin America and the Caribbean hosts at least 72 public development banks, whose combined assets surpass USD 236 billion. These institutions play a vital role in financing infrastructure, housing, and micro, small, and medium-sized enterprises. They also serve as important conduits for climate finance and frequently collaborate with multilateral development banks to address national priorities. In this context, bolstering their transparency standards is essential to enhancing decision-making, fostering coordination within the financial ecosystem, and creating trust in the stewardship of resources.

Building on CAF’s commendable progress in the 2025 DFI Transparency Index, the organisation and Publish What You Fund will collaborate to assist public development banks in identifying transparency shortfalls and implementing solutions.

The project will produce a number of resources, including a compendium of disclosure best practices and a bespoke Transparency Tool for public development banks, designed to promote more open, comparable, and actionable practices for management and accountability throughout the public development banking sector.

Gary Forster, Chief Executive Officer of Publish What You Fund, said:

“We are delighted to begin this new collaboration. As CAF continues to improve its own transparency practices, we welcome the leadership it is showing across the region.”

“Public development banks play a central role in delivering climate finance, mobilising private capital, and supporting country platforms. As the development finance ecosystem undergoes major reforms, their role is set to assume even greater importance. Enhancements to transparency policies and disclosure practices can support better coordination within the development finance ecosystem, increase opportunities for knowledge sharing, and boost the mobilisation of additional investment. That’s why strengthening the transparency of public development banks is critical: it enables the banks to demonstrate their value and impact, and it allows investors, citizens and civil society to understand what they’re delivering. This project provides a great step forward at a crucial time.”

Alejandra Claros Borda, Secretary General of CAF, observed:

“In recent years, CAF has established itself as a benchmark of transparency in Latin America and the Caribbean. One of our principal challenges has been transforming existing information into truly accessible, useful, and comprehensible information for our partners, citizens, and the wider array of development stakeholders.”

“Upon this foundation, we reaffirm our commitment to bringing these best practices to institutions such as public development banks, with the aim of strengthening their capacities for disclosure, accountability, and institutional openness.”

“We are convinced that advancing this agenda not only amplifies their impact, but also fosters more legitimate institutions that stand in closer proximity to the societies they serve.”

View CAF’s press release (Spanish)