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The Inter-American Development Bank (IDB), which is a major financier of several government-run projects, has unveiled new measures that will allow for greater transparency of projects.The bank, earlier this week, announced that the Access to Information Policy takes effect from January 1,Adoree Jackson Authentic Jersey, and strengthens the Bank’s commitment to transparency in all its activities and maximizes access to documents and information, emphasizing a conceptual shift to a more comprehensive presumption in favour of disclosure.“The IDB through this new policy reaffirms its commitment to transparency in all aspects of its operations as a means of aligning itself with international best practice, especially among the countries of Latin America and the Caribbean, and as a matter of enhancing its accountability and development effectiveness.”Over time, the bank has had to deal with accusations that some of its employees were corrupt and has since set up a special department to handle this.“Information concerning the bank and its activities will be made available to the public in the absence of a compelling reason for confidentiality, in accordance with this policy. Access to all public bank information should be available in any of the bank’s member countries.”However, the IDB warned that the final determination as to what information may be released to the public shall rest with the Bank.Specifically, the bank said that technical cooperation outlines, concept documents, profiles, abstracts, or eligibility memoranda will be made available to the public once the respective Management Committees receive them.“Additional non-confidential factual technical information will be provided on request, with the prior approval of the Manager of the department responsible for preparation of the respective project document.”The bank prepares an Annual Report of Projects in Execution (ARPE) which will be made available to the public once it has been considered by the Board of Executive Directors.“In addition, the Bank will make available to the public information on the status of disbursements for every public sector operation in execution.”In the areas of procurement, the IDB’s new policy allows for borrowing member countries to have access also, especially as these would have been printed in the local press.“The bank has a Procurement Committee that is responsible for the review of any challenges by bidders involved in procurement that is done with bank resources on specific projects. The regulations governing the functioning of the Procurement Committee and a summary of the Committee’s decisions will be made available to the public. Such summaries will not include the names of the respective firms or individuals, or the amounts in dispute.”The bank also has an Oversight Committee on Fraud and Corruption (“OCFC”) that reports directly to the President of the bank and is responsible for ensuring that any allegations of fraud or corruption involving bank staff or bank-financed operations are properly investigated and addressed.“Investigations of such allegations of fraud and corruption are conducted by the Office of Institutional Integrity (“OII”). The procedures of the OCFC and periodic summary reports of investigative findings of fraud and corruption will be available to the public.”Reports of the Sanctions Committee – which considers allegations of fraud and corruption by firms, entities or individuals bidding for or participating in a bank-financed project or other activity – will also be made available if a sanction is imposed on a firm, entity or individual.