Source · Select Committees · International Development Committee
Recommendation 21
21
Accepted
Paragraph: 115
Mandate BII to annually publish comprehensive investment performance data for greater transparency.
Recommendation
BII needs to work towards greater transparency of its investment data. As BII has stewardship over taxpayers’ money, there is greater responsibility to ensure propriety over its investments by annually publishing performance data. We welcome BII’s steps towards improving its transparency by creating a new role for a Transparency and Disclosures Officer. We note however that there is scope for considerable improvement in BII becoming a more transparent institution.
Government Response Summary
The government accepts the recommendation, setting a goal for BII to rank as the most transparent bilateral DFI. BII will publish a Transparency Roadmap outlining its ambition and specific short-term milestones.
Paragraph Reference:
115
Government Response
Accepted
HM Government
Accepted
Accept The Government agrees with the importance of BII being a leader on transparency across the DFI system and ensuring BII is a transparent and open organisation. Ministers have set BII the goal to rank as the most transparent bilateral development finance institution in the next Publish What You Fund DFI Transparency Index. BII will publish a Transparency Roadmap to articulate their ambition to be the most transparent bilateral DFI, with specific short-term milestones for delivering on this goal. BII will also place greater emphasis on using data from improved transparency - alongside their wider monitoring and evaluation work – to become a more effective learning organisation, incorporating lessons into its investment decisions and future strategy, as well as sharing knowledge across the DFI system.