Confidentiality and Disclosure of Information - Introduction

Table of Contents

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I. Introduction

II. Current Policies and Practices

III. Recent Developments at the World Bank and the IFC

IV. Concerns and Constraints Relating to Confidentiality and Disclosure

V. General Policy on Disclosure

VI. Implementation of the Policy

VII. Recommendations

Confidentiality and Disclosure of Information

I. Introduction

1. There is an increasing recognition that the Bank must ensure transparency and accountability in its activities. In particular, with respect to public sector operations and environmental issues,¹ increased transparency can lead to improved project quality and sustainability as well as enhanced public support for the Bank. It is also recognized, however, that there are practical, legal, and other constraints which require the Bank to maintain the confidentiality of some types of information under specific circumstances. These are competing needs which must be reconciled under a readily understandable and consistent policy. While recognizing the constraints, such policy should favor the greatest degree of transparency and disclosure possible.

2. This paper reviews the current policies and practice of the Bank with respect to confidentiality and disclosure, recent developments on disclosure of information at the World Bank and the International Finance Corporation (IFC), and concerns and constraints relating to disclosure of information. The paper then proposes a general policy on disclosure, and procedural steps to implement that policy. The last part of the paper contains specific recommendations on these issues for Board consideration.

3. The emphasis of this paper is on increasing disclosure of information, while taking into account countervailing constraints which may arise in carrying out the Bank�s operations. Thus, this paper is concerned solely with what information should be disclosed. A separate paper on a broader and more comprehensive information policy and strategy for the Bank was discussed by the Board on 21 April 1994.

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This paper focuses to a large extent on public sector operations, although disclosure of information relating to private sector operations and to financial and administrative matters is also intended to be included. In the case of individual private sector projects, however, it must be recognized that greater constraints on disclosure may be necessary to protect the legitimate business interests of private sector clients.

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Confidentiality and Disclosure of Information

II. Current Policies and Practices

Publications

I. Introduction