The IDB Climbs to Second Place in the 2024 International Aid Transparency Index

The Inter-American Development Bank (IDB) has achieved second place among 50 development organizations and aid donors evaluated in the 2024 Aid Transparency Index. This marks an improvement from the 2022 edition of the ranking, where IDB secured third place.

The Aid Transparency Index, produced by Publish What You Fund (PWYF), is an independent ranking that measures the transparency of major global development assistance and financing institutions. The index evaluates data published in the International Aid Transparency Initiative (IATI) Standard.

"The results in the Transparency Index show that the IDB's efforts to strengthen the transparency of our institution are bearing fruit. This helps build greater trust with the public, stakeholders, and our member countries. We will continue to advance along this path, complying with the highest standards and best practices. Advancing transparency and access to information is essential to improve the effectiveness and impact of our operations on development," said the president of the IDB, Ilan Goldfajn.

Since 2011, the Bank has been a signatory to this initiative that sets standards for disseminating information crucial for the economic and social development of countries. This initiative ensures that users can access information from various development agencies in a unified format.

The IDB regularly reports monthly to IATI on approximately 1,800 sovereign guaranteed loan operations it has approved since 2004. This wealth of standardized data on development aid presents a significant opportunity to foster closer coordination among development actors across different countries and regions.

This accomplishment by the IDB is complemented by the recent approval of its new Access to Information Policy, reaffirming its commitment to transparency and accountability. Scheduled to take effect in 2025, this policy underwent a thorough public consultation process with stakeholders. It includes significant advances to strengthen proactive disclosure and improve processes to respond to requests for information, in addition to reducing the list of exceptions for disclosure and maximizing access using clearer and more straightforward language.

IDB Invest, a member of the IDB Group committed to promoting the economic development of Latin America and the Caribbean through the private sector, was evaluated separately and significantly increased its score by 23.6 points compared to the previous Aid Transparency Index ranking. This positions IDB Invest among the top-rated entities for transparency practices.

This notable advancement reflects IDB Invest's commitment to transparency through the standardized publication of its operational data. This includes detailed information on financial flows, aid and financing types, along with new financial data, such as activity commitments, greater budget information and clearer descriptions.