The Asian Development Bank (ADB) has approved a new Access to Information Policy that aims to maintain ADB's high standard of transparency.
The ADB Board of Directors gave the approval to the new policy on September 28. The policy will come into effect on January 01, 2019, said an ADB press statement.
The new policy will replace the present Public Communications Policy (PCP), according to the press release.
"The new policy retains the key information disclosure and sharing principles and exceptions of the PCP, and includes a new overarching principle of clear, timely, and appropriate disclosure that is underpinned by a presumption in favour of disclosure and a commitment to sharing information and ideas," it said.
The ADB has expanded some areas of disclosure. Citing example, it said the types of information that will be made available after 20 years will now include historical country financial information and certain external audit report on ADB-administered trust funds.
"Transparency and openness are key to maximising the development impact of our work," the release said, quoting the ADB Vice-President for Knowledge Management and Sustainable Development Bambang Susantono.
"We want to make sure that ADB continues to be a top performer in terms of transparency. Principles-based access to information policies are now considered to be international best practice," Mr. Susantono was also quoted as saying.
ADB was ranked first in the 2018 Aid Transparency Index, an independent measurement of aid transparency, created by Publish What You Fund, a UK-based nongovernment organisation, it said, adding the index assessed 45 of the world's leading development organisations.
Asia's dynamic economic growth over recent decades has brought different challenges, ranging from environmental stress to rapid urbanisation. ADB's activities and the issues ADB addresses are changing, according to the Manila-based multilateral lender.
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