World bank: TRANSPARENCY & ACCOUNTABILITY
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Transcript of World bank: TRANSPARENCY & ACCOUNTABILITY
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World bank:TRANSPARENCY & ACCOUNTABILITY
Manuel Vargas. PSC Meeting, May 2012.
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Contents
• Open Development & Aid Transparency– At the World Bank
• Fiscal Transparency & Accountability– Supported by the World Bank
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Open Development at the WB
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Aid Transparency Index 2011
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Open Access to Audits
• Audited financial statements of World Bank-financed projects– Disclosed by the Borrower and by the Bank– Applicable to operations for which the invitation to
negotiate is issued on or after July 1, 2010
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Citizen Feedback for Service DeliveryOpen Government / Fiscal Transparency
Institutions of Accountability (SAIs/PACs) Non-government Capacity Building
Dimensions of T&A
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Open Budgets?
Open Budgets!
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Fiscal Transparency
• Budget transparency– New condition for World Bank’s Development
Policy Lending (General Budget Support)• At a minimum, publication of the Executive’s budget
proposal or the enacted budget• Readily accessible to the general public in printed form
or on an external website
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11Education Mgmt. Info. Unit
Open Budget
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BOOST Visualizing Budget
Uganda—value for money Moldova—budget deviation
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Fiscal Transparency• World Bank Support Instruments
– Analytical and advisory services• Public Financial Management Performance Reports• Customized TA
– Development policy budget-support operations• Policy actions that include strengthening of accountability institutions and/or
improved fiscal transparency– Financing of PFM projects
• Through loans or grants• Including SAI support
The availability and mix of instruments depends on country-specific partnership strategies.
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Direct Support to SAIs
• 43 projects in all Regions
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Direct Support to SAIs
• + US$ 110 million
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Fiscal Transparency
• World Bank Support to Global Public Goods– PEFA– IPSAS– GIFT– ISSAIs
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IPSAS
Serve the public interest by developinghigh quality public sector financial reporting standards and by facilitating the convergence of international and national standards, thereby enhancing the quality and uniformity of financial reporting throughout the world
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GIFT
Advance and institutionalize global norms and significant, continuous improvements on fiscal transparency, engagement,
and accountability in countries around the world
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ISSAIs
• Financial Audit Standards– US$ 670,000 to date– Engagement until 2014
• ISSAI implementation– US$ 950,000 to date– Engagement until 2014
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A shared objective