World bank: TRANSPARENCY & ACCOUNTABILITY Manuel Vargas. PSC Meeting, May 2012

World bank:TRANSPARENCY & ACCOUNTABILITY

Manuel Vargas. PSC Meeting, May 2012.

Contents

• Open Development & Aid Transparency– At the World Bank

• Fiscal Transparency & Accountability– Supported by the World Bank

Open Development at the WB

Aid Transparency Index 2011

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

Citizen Feedback for Service DeliveryOpen Government / Fiscal Transparency

Institutions of Accountability (SAIs/PACs) Non-government Capacity Building

Dimensions of T&A

Open Budgets?

Open Budgets!

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

11Education Mgmt. Info. Unit

Open Budget

BOOST Visualizing Budget

Uganda—value for money Moldova—budget deviation

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.

Direct Support to SAIs

• 43 projects in all Regions

Direct Support to SAIs

• + US$ 110 million

Fiscal Transparency

• World Bank Support to Global Public Goods– PEFA– IPSAS– GIFT– ISSAIs

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

GIFT

Advance and institutionalize global norms and significant, continuous improvements on fiscal transparency, engagement,

and accountability in countries around the world

ISSAIs

• Financial Audit Standards– US$ 670,000 to date– Engagement until 2014

• ISSAI implementation– US$ 950,000 to date– Engagement until 2014

A shared objective