World Bank – International Finance Corporation (IFC)MULTIPLE AGENCY GROUP : World Bank
The International Finance Corporation (IFC) is a member of the World Bank Group. It is the largest global development institution focused exclusively on the private sector in developing countries. It plays an important role in setting standards for the sector. The World Bank-IFC became a member of IATI in 2017 and first published IATI data in that same year.
Following its first publication to the IATI Registry, World Bank-IFC progressed from the ‘poor’ to the ‘fair’ category.
It publishes on a monthly basis to the IATI Registry.
World Bank-IFC publishes 59% of the indicators to IATI which is below average.
Within the fair category, World Bank-IFC is the organisation which scores highest on the organisational planning and commitments component. All organisational planning indicators are made available in the IATI format apart from allocation policy which is made available elsewhere.
Its score for the finance and budget component is below average. Only commitments are published in the IATI format. While project budgets are consistently published in a machine-readable format, no information at all is being made available for project budget documents, disbursement and expenditures and capital spend. The total organisation budget as well as disaggregated budgets are available for one year ahead only.
For the majority of project attributes indicators, the World Bank-IFC performs well. However, they do not provide any information about planned end dates. The World Bank-IFC publishes sub-national location information to the IATI Registry but the information provided did not fulfil the requirements for this indicator. Sub-national locations for World Bank-IFC projects can be found elsewhere but are not published consistently.
Performance for the joining-up development data component is mixed. While the World Bank-IFC performs well on aid type, finance type, flow type and tied aid status, information about conditions, contracts and tenders is missing. These indicators are not published to IATI and although conditions information is sometimes available in other formats, contracts and tenders are not being made available at all.
It does not score on any of the performance indicators but objectives. Results data in the IATI Standard did not contain the required information and no results documents are provided. Results are sometimes provided in other formats and the WB-IFC started implementing Harmonized Indicators for Private Sector (HIPSO). Pre-project impact appraisals as well as reviews and evaluations are sometimes provided in other formats.
- The WB-IFC should make further improvement to its publication of budgetary and financial data, including providing forward-looking budgets, disbursements and expenditures as well as capital spend.
- It should also prioritise the publication of performance-related information, from pre-project impact appraisals to results.
- The World Bank-IFC should share its experience working on improving transparency from the private sector, including on HIPSO, with other DFIs.
- To demonstrate the impact of transparency on development work, the WB-IFC should take responsibility to promote the use of the data they publish: internally, to promote coordination and effectiveness; and externally, to explore online and in-person feedback loops, including at country-level.