Publish What You Fund, a UK-based NGO aimed at increasing the transparency of international development efforts, today launched its DFI Transparency Index, which examines and ranks the operational transparency of 30 development finance institutions (DFIs). The rankings are based on 47 indicators, including publication of project locations and dates, impact metrics, global and community disclosure policies, and investment structure and concessionality.
The authors of the report argue that DFIs are insufficiently transparent in general, with private sector institutions – those whose investments are not government-guaranteed – being of particular concern. However, many of the assessed DFIs are making efforts to improve their levels of transparency.
The World Bank Group’s International Finance Corporation (IFC) topped the private sector – or “non-sovereign” – transparency list, with the Islamic Corporation for Development of the Private Sector ranking the lowest of the 21 private DFIs examined. Out of the nine sovereign institutions assessed, the Asian Development Bank was listed as the most transparent while the Islamic Development Bank placed last.
Publish What You Fund CEO Gary Forster commented, “The launch of this report marks a moment of reckoning for DFIs and their shareholders. The mandates of DFIs – to build markets, drive impact and be socially responsible – require them to be transparent in order to demonstrate what is possible – to each other, to the market and to the communities where they operate.”
Founded in 2008, the goal of Publish What You Fund is to improve development outcomes by increasing the availability of data on international development, including by reducing the gap between perceived and actual risks to encourage increased investment in emerging markets. The NGO received EUR 1.2 million (USD 1.3 million) in donations during 2021.
By Vaughn Rajah, Research Associate
Sources and Additional Resources
DFI Transparency Index 2023 report
https://www.publishwhatyoufund.org/download/2023-dfi-transparency-index-report
DFI Transparency Index website
https://www.publishwhatyoufund.org/dfi-index/2023
Publish What You Fund homepage
https://www.publishwhatyoufund.org
Publish What You Fund financials
https://www.publishwhatyoufund.org/about-us/annual-reports
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