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IDB Invest manages the IDB Group’s private sector portfolio. IDB Invest provides a variety of loans, blended finance, guarantees, equity, and resource mobilisation to support the private sector, helping to achieve sustainable economic growth in countries in Latin America and the Caribbean. IDB Invest first published to the IATI Standard in November 2021.
IDB Invest had the fifth highest score in the non-sovereign assessment with 41.8 out of 100. IDB Invest performed relatively strongly in all components of the index apart from the Financial Intermediary Sub-investments component. IDB Invest’s score improved significantly between the rounds of assessment during the index owing to the disclosure of data in bulk download format.
IDB Invest came fifth in the Core Information component, with 12.75 out of 20. It disclosed data for fifteen of the seventeen indicators. IDB Invest discloses many Core Information indicators to the IATI Standard. However, there are further data points that are disclosed on its database but not disclosed to IATI, negatively affecting IDB Invest’s score. These data points include country, investment instrument, client name, and client contact details. A number of data points were not disclosed at all, including domicile, sub-sector, total investment cost, disbursement, funding source, and last update date. It also did not score for sub-national location.
IDB Invest came sixth in the Impact Management component with a score of 11 out of 25. It was the only non-sovereign DFI to receive full points for organisation-level indicators in this component. However, it did not receive any points for project-level indicators as it did not disclose any activity indicators/metrics or results data.
IDB Invest came seventh in the ESG and Accountability to Communities component, scoring 14.75 out of 30. It scored for all organisation-level indicators apart from the independent accountability mechanism (IAM) community disclosure policy. For project-level indicators it only scored points for consistently disclosing summaries of E&S risks for its activities and disclosing the presence of its IAM on project pages.
IDB Invest came joint fourth in the Financial Information component, with 2 out of 15. However, it only disclosed currency of investment on a consistent basis. IDB Invest does not disclose disaggregated mobilisation data or consistently disclose whether or not concessional finance is used in its investments.
IDB Invest scored 1.25 out of 10 in the Financial Intermediary (FI) Sub-investments component, which was joint second-last. Similar to seven other non-sovereign DFIs, it only scored points on the FI (bank) use of funds indicator.
- IDB Invest should publish data points that are already disclosed on its data portal to the IATI Standard. These include country, investment instrument, client name, client description, client contact details, and E&S risk summaries.
- It should disclose further Core Information indicators including domicile of investee, sub-sector, total investment cost, disbursement data, funding source, and last update date. It should consistently disclose the sub-national location.
- IDB Invest should limit its disclosure exceptions to information that would cause harm to identified legitimate interests and include an objective harm test for confidentiality of information provided by third parties.
- IDB Invest should disclose project-level Impact Management indicators, including additionality statement, activity indicators/metrics, and results data.
- It should consistently disclose all E&S documents that have been produced for its projects, including the minimum documentation for higher risk projects.
- It should provide assurance of community disclosure for investments when disclosure is required.
- It should create a policy guiding the disclosure of the presence of the IAM at community level.
- IDB Invest should disclose Financial Information indicators including repeat investment, co-financing, concessionality, mobilisation, and instrument-specific data (share of equity, interest rate, loan tenor, and length of guarantee).
- IDB Invest should create policies for FI sub-investment disclosure. It should disclose all private equity fund sub-investments and qualifying FI (bank) sub-investments in accordance with Publish What You Fund’s DFI Transparency Tool.