The US International Development Finance Corporation (DFC) recently invited public comments on its draft transparency policy and draft policy on public engagement by the DFC Board of Directors. The draft policies are a step in the right direction, but additional actions can be taken to improve the transparency and accessibility of the DFC’s data. George Ingram and Sally Paxton highlight steps that could help the DFC reach its commitment to be the gold standard for transparency among development finance institutions.
Sally Paxton and George Ingram reflect on the performance of the five US donors in the 2020 Aid Transparency Index, and the next steps needed to improve their transparency and accountability. They also lay down the challenge of how we move towards the more important goals of doing development differently.
The Millennium Challenge Corporation (MCC) has come out as the top bilateral aid agency globally in the 2020 Aid Transparency Index. The United States Agency for International Development (USAID) also showed significant improvement, increasing its score to put it near the top of the “good” category for the first time.
In this guest blog, George Ingram of the Brookings Institution looks ahead to the launch of the 2020 Aid Transparency Index and previews the opportunities offered by USAID’s new Development Cooperation Landscape Tool.
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.
President Trump will soon send Congress his budget for FY 2020. The development community is fully expecting drastic cuts to the proposed foreign aid budget – repeating the FY ‘18 and ’19 scenarios. Over the past 18 months we have conducted detailed research into the impact of proposed cuts. In this blog we reflect on our findings and their significance for the FY 20 budget debate.