World Bank Finalizes Transparency Plan

We posted previously that the World Bank was working toincrease transparency through its new disclosure policy.  The Bank has finalized the detailsof its new policy which is to take effect on July 1, 2010.  According toa WorldBank press release, the new disclosure policy will set the standard forinternational financial institutions who are expected to revise their policiesto match the Bank. 

The type of documents that the Bank is focused on makingmore available largely concern key decisions during the process of projectdevelopment and implementation including concept review meetings, project supervisionmissions, and mid-term project reviews. However, the new policy will not change the disclosure of documentscontaining confidential client information; therefore, legal agreementsdefining project governance may or may not be more available under the newpolicy.  As noted in the previous post,confidential information will become available as it becomes less sensitiveover time.  Confidential information willbecome available after a period of 5, 10, or 20 years depending on the natureof the information. 

Finally, the new policy spells out the appeals process bywhich requesters can challenge Bank decisions to withhold information asunreasonable.  Appeals will go through atwo-stage process; first under an internal mechanism at the Bank; then, ifnecessary, by a panel consisting of three international experts who will makefinal binding decisions on disclosures.

SS