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IDB approves new policy to boost transparency

May 14, 2010 News

The Inter-American Development Bank (IDB) has announced that effective January 1, 2011, a number of project monitoring and evaluation documents, including annual audit reports, would be made public for the first time.
The new policy approved Wednesday aims to “to bring an unprecedented level of transparency to IDB operations” according to the IDB.
“The new policy is part of our ongoing reform efforts to make the IDB more accountable,” said IDB President Luis Alberto Moreno. “As we further strengthen the mechanisms to measure the impact of our work, keeping the public informed of what we do in a timely fashion is essential. On the critical issue of transparency, it will allow us to lead by example.”
IDB management began a review of its information disclosure policy and received Board approval to propose a new policy six months ago, in December 2009.
The policy was approved by the IDB’s Board of Executive Directors on May 12. A draft that was reviewed by the Board had been simultaneously released to the public.
Certain restricted categories of documents will be presumed to be confidential, including legal or investigative documents.
For the first time there will be a system for classifying information as belonging to either a public category or a non-public one. This is to ensure that the new policy is being implemented consistently.
It is hoped that for Guyana, the new policy will allow for some measure of transparency regarding government projects funded either wholly or in part by the IDB.

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