During 2018, the private sector investment arm of the Inter-American Development Bank, BID
Invest, will review its institutional policy on access to information. It is a process that is expected
to improve its current policy, in order to effectively guarantee this right.

“Below, we offer a google translate version of the original article in Spanish. This translation may not be accurate but serves as a general presentation of the article. For more accurate information, please switch to the Spanish version of the website. In addition, feel free to directly contact in English the person mentioned at the bottom of this article with regards to this topic”

The investment arm of the private sector of the Inter-American Development Bank, BID Invest, will review its access to information policy during 2018. IDB Invest, is the entity in which the former Inter-American Investment Corporation (IIC) was transformed, as a result of the deepening that the IDB intends to carry out in its financing to the private sector.

The IIC (now BID Invest), like the other international financial institutions (IFIs), has operational policies that regulate the actions of the entity and present criteria for the granting of loans. The policies of access to information fall within the group of rules that define the actions of the institution. In particular, they claim the basic right of access to information that human beings have.

It is also important to mention the relevance that this right adopts in terms of development projects. For a true development to take place, it is necessary that those involved can be part of the information exchange process, and even more, that they can see their development priorities reflected throughout the project’s investment cycle. Only then, policies and projects will be able to provide real benefits to local communities.

In this regard, IFIs and their policies do not always account for the best standards and practices in terms of access to information. In a recent analysis, the organization International Accountability Project, found that the former Corporation failed greatly in guaranteeing this right. Numerous projects financed by this member of the IDB Group have not managed to make the affected communities have access to information or participation mechanisms. This situation has been fostered by a lax normative framework that does not guarantee access to this right in its fullness.

It is expected that in this 2018, with the change to BID Invest, the review of the policy will achieve maximum standards and good practices in what access to information is concerned. However, there are still few details about this process. The dates are not defined and it is not known if there will be any instance that allows participation and / or comments from civil society organizations. From FUNDEPS we will be following this process closely and getting involved in it.

More information

Author

Agustina Palencia

Contact

Gonzalo Roza – gon.roza@fundeps.org