This report is the culmination of two years of in-depth and collaborative research assessing the disclosure practices of the world's leading multilateral and bilateral Development Finance Institutions (DFIs).As this report explains, the research has demonstrated:
The current lack of DFI transparency makes it difficult to see what DFIs are doing, what impact their investments are making, whether they are adhering to their accountability and environmental, social, and governance (ESG) responsibilities, and to what extent they are successfully crowding in the private sector.
Enhanced transparency is necessary to understand whether DFIs are fulfilling their mandates including developmental impact, market building, and accountability.
Claims of commercial confidentiality need to be challenged. While there are valid claims of sensitivity that preclude disclosure, much purportedly confidential information is found in the public domain. Investees have shown a willingness to disclose more information and we found examples where some DFIs are providing information that others claim is confidential.
DFIs are open to adopting a new harmonised approach to data disclosure to improve the availability, timeliness and comparability of investment and policy information. The DFI Transparency Tool can contribute to this approach.