Transparency and accountability

Technician working

Transparency and accountability have been key principles guiding the EBRD’s work since its establishment in 1991 and occupy a prominent place in our Public Information Policy.
 
As the most recent version (May 2014) of the policy stresses:  ‘the EBRD is committed to enhancing transparency and accountability and fostering good governance in all its activities, so as to promote economically and environmentally sustainable transition in its countries of operations, with emphasis on the private sector’.
 
As part of its commitment to openness, the EBRD seeks to provide accurate and timely information regarding its operational activities. By providing such information to economic decision-makers the EBRD also helps to improve the stability and efficiency of markets, and promotes adherence to internationally-recognised standards. Its approach is guided by international standards on transparency.
 
Those standards have evolved over the years in line with rapidly improving technology and new expectations on the part of civil society and others as to how openness should be defined.
 

The International Aid Transparency Initiative (IATI)
 

The International Aid Transparency Initiative (IATI) is a voluntary, multi-stakeholder initiative which aims, in its own words, to make information about aid and development spending ‘easier to access, use, and understand’.
 
The IATI Standard is a format and framework for publishing data on development cooperation activities, intended to be used by all organisations in development, including government donors, private sector organisations, and national and international NGOs. The standard was designed to ensure maximum relevance and utility for data users.
 

The EBRD and IATI

 
As of May 2015, the EBRD has been publishing data on its investment operations and key documents about its activity via IATI and to the IATI standard.
 
It has also made public its IATI implementation schedule in line with the agreed standard for DFIs (Development Finance Institutions) and IFIs (International Finance Institutions).
 
 
By joining the dozens of other organisations already reporting their data to IATI, we hope to make a significant new stride towards fulfilling the commitments to transparency, accountability and openness we made at our creation.