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The Development Bank of Austria (OeEB), is the Austrian development finance institution and wholly-owned subsidiary of Oesterreichische Kontrollbank AG (OeKB). It was established in 2008 with the purpose of financing private investment projects in developing countries and emerging markets. It joined the bilateral European Development Finance Institutions Association (EDFI) in 2008.
OeEB came sixteenth from 21 non-sovereign DFIs assessed with a score of 23.4 out of 100. It came eighth in the Impact Management component but in the bottom five for the other four components of the index. OeEB’s’s overall performance was negatively affected due to the fact that it does not disclose a bulk download export of investment data and does not publish to the IATI Standard.
OeEB scored 4.71 out of 20 in the Core Information component. It failed to score for seven out of the seventeen indicators, including disclosure/access to information policy, status, domicile, investment instrument, funding source, E&S risk category, and progress dates. It dropped points for format of publication for many indicators due to there not being a bulk download available and for not publishing to the IATI Standard.
OeEB came eighth in the Impact Management component with a score of 9 out of 25. It got all these points from the organisation-level indicators, including impact measurement approach, sector/country strategies, and evaluations indicators. It did not score for the project-level indicators in this component.
OeEB scored 7.67 out of 30 in the ESG and Accountability to Communities component. It scored 100% for its E&S and project-level grievance (PGM) community disclosure policies. It also scored points for E&S global disclosure policy. However, it did not score for any other indicators in this component, including project-level indicators.
OeEB came joint last in the Financial Information component, with 0.75 out of 15. It only scored for the financial reports/statements indicator. Again, it did not score for any project-level indicators.
OeEB came joint last for the Financial Intermediary (FI) Sub-investments component with a score of 1.25 out of 10. It did not score for any organisation-level indicators and only scored for the FI (bank) use of funds indicator at the project level.
- OeEB should create a disclosure/access to information policy in line with industry best practices and the DFI Transparency Tool.
- It should become an IATI publisher and disclose all investments to the IATI Standard.
- It should make its data available in a bulk download format to improve useability and accessibility.
- OeEB should disclose further Core Information data including unique identifier, status, disbursement data, E&S risk category, date of activity disclosure, approval date, signature date, and last update date. It should consistently disclose the sub-national location, domicile details, sub-sector, investment instrument, total investment cost, funding source, and client contact details.
- It should disclose project-level Impact Management indicators, including additionality statement, activity indicators/metrics, and results.
- OeEB should disclose project-level ESG and Accountability to Communities indicators, including summary of E&S risks and E&S documentation.
- It should develop an early disclosure policy covering, at a minimum, high risk projects and disclose investments in line with the policy.
- OeEB should create an independent accountability mechanism (IAM), following best practice examples and incorporate disclosure requirements for an IAM into existing policies.
- It should provide assurance of community disclosure for investments when disclosure is required.
- For Financial Information indicators it should disclose currency of investment, concessionality, mobilisation, and instrument-specific details (share of equity, interest rate loan tenor, and length of guarantee). It should consistently disclose for the repeat investment and co-financing indicators.
- OeEB should create a policy for the disclosure of FI sub-investments in line with Publish What You Fund’s DFI Transparency Tool.