We are launching a new 2.5 year initiative to increase support for the transparency of Development Finance Institutions (DFIs). It follows a 12-month scoping exercise, and we’re now embarking on a focused, strategic programme to move things forward. Based on our initial research, and the previous work of academics, practitioners and policy-makers, we have set out a collaborative, evidence-based approach that we believe can inform and improve DFI transparency, accountability and decision-making.
Scheduled to open its doors this fall, the new US Development Finance Corporation has some ambitious and welcome goals. George Ingram and Sally Paxton consider the key issues for the new institution to address if it is to set the gold standard for a modern and transparent DFI.
Governments should allocate ODA budgets through the channels that will most effectively alleviate poverty and contribute to the SDGs. How do we know that development finance institutions (DFIs) are an appropriate vehicle for ODA spend? In the latest blog in our series on DFI transparency, Gary Forster teams up with CAFOD’s Dario Kenner to explore how governments and shareholders can be confident that DFI investments are delivering impact and value for money. Taking the example of the UK’s CDC Group, they ask If CDC’s portfolio is making a game-changing contribution to the SDGs.
The debate on the role of private finance in achieving the Sustainable Development Goals (SDGs) is intense and lively. The need for transparency comes up again and again. But how do we move from debate to action?
Next week is Private Finance for Sustainable Development Week – an annual OECD event that brings together the public and private sector to discuss new approaches in using private finance to achieve the Sustainable Development Goals. Naturally the role of Development Finance Institutions (DFIs) will be included in these discussions by virtue of the financial muscle they bring to the table. And as part of our ongoing work on DFI Transparency we’ll be there.
In this blog we question the value of increasing the focus on impact measurement if development objectives, results and lessons learned are not transparent.
The new US Development Finance Corporation provides a rare opportunity to set up an agency from the beginning. We can learn from other development finance institutions (DFIs) as to what worked and what did not. This is an opportunity to reach higher, to innovate more, and to truly set a gold standard for transparency.