AIIB modernizes its policy to increase transparency
The Asian Infrastructure Investment Bank’s (AIIB) Policy on Public Information (PPI) (in English) has been approved by its Board of Directors, enhancing the transparency and accountability of AIIB.
The PPI replaces an interim policy adopted at the first meeting of the Board of Directors in January 2016 and builds upon AIIB’s early operational experience.
Key features of the PPI, which defines what kind of information AIIB is required to disclose, and when, include:
• A governing first principle: "Presumption in Favor of Disclosure."
• Interest-based exceptions to disclosure, instead of static and prescriptive positive and negative lists.
• A mechanism for appeals if a disclosure request is denied.
• A quarterly report by the President to the Board of Directors on the implementation of the PPI.
The PPI was developed after a comprehensive review and reflection upon the Public Information Interim Policy adopted in January 2016. A diverse group of stakeholders, including government agencies, the banking sector, business communities, project implementation agencies, civil society organizations, nongovernmental organizations, multilateral development banks and academics, actively participated in the public consultations held from Jan. 22 to Mar. 16, 2018.
Press-release at the AIIB official web-site