# Publish What You Fund

Publish What You Fund is a global campaign for aid transparency– more and better information about aid.

## Background

Publish What You Fund is the global campaign for aid and development transparency. It works for a world where aid and development information is transparent, available and used for effective and inclusive decision-making, public accountability and lasting change for all citizens. It believes full and fair access to global aid and development data empowers local actors, increases the accountability and effectiveness of aid agencies and creates a more just and equitable world. Publish What You Fund uses aid and development data to share understanding of spending and impact, to address global challenges and drive greater transparency. Through quantitative and qualitative analysis, often using vast open aid datasets, it identifies and encourages improvements in policy and practice. Publish What You Fund emerged from the aid transparency movement in 2008 and has played a central role ever since. It was established the same year as the International Aid Transparency Initiative (IATI), a voluntary, multi-stakeholder initiative to create an open and shared data standard for development and humanitarian assistance.. Initially, Publish What You Fund focused on encouraging donors to publish to IATI, thus sharing comprehensive aid information in a timely and accessible way. In Busan in 2011, donors committed to use the IATI Standard and make their aid transparent by December 2015, signalling a critical milestone for aid and development transparency. To support and encourage donors to publish more and better aid and development information, Publish What You Fund developed a methodology to independently assess ‘what good transparency looks like’. On the back of this, the Aid Transparency Index was first piloted in 2011. By 2016, ten donors accounting for 25% of total aid met the Busan commitment to aid transparency by achieving ‘very good’ in the Index of that year.

### The Aid Transparency Index

The Aid Transparency Index is the only independent measure of aid transparency among the world’s major development agencies. It is the flagship publication of Publish What You Fund. The Index tracks and measures aid organisations’ progress towards transparency. This public comparative ranking, based on a robust methodology, enables stakeholders to identify changes needed and galvanise major aid agencies to progressively increase and improve the aid and development information they make available.
Since the first full Index in 2012, it has raised the profile of aid transparency and influenced some of the largest aid organisations in the world’. The Aid Transparency Index is the most powerful incentive for major aid organisations to improve the quantity and quality of the data they publish in the International Aid Transparency Initiative Standard. The Index process includes 50 donor agencies who together publish 92% of all the published IATI data. Released every two years, the Index ranking shapes the publishing behaviours of major aid agencies – a fact under-pinned by independent academic research. The launch of each Index is accompanied by substantial media coverage and draws political attention to the issue of aid transparency. Between editions of the Index, IATI data quality decreases.
The 2024 Aid Transparency Index highlighted:
* The highest recorded scores for the world’s major aid agencies – more agencies achieve scores in the ‘very good’ category and the highest ever average score.
* The Index itself is a powerful driver of change in transparency policy and practice.
* More aid and development agencies, journalists, think tanks and civil society organisations are using the data to improve aid effectiveness and hold donors to account for their commitments to tackle poverty, conflict and the climate crisis.
* The African Development Bank -Sovereign Portfolio retained its top spot in the Index, with a score of 98.8 out of 100. The Inter-American Development Bank ranked second with a score of 96.3, and the highest-ranking bilateral aid agency, the US Millennium Challenge Corporation came third with 93.0.
* Some agencies still have a long way to go to improve their transparency, and more information on impact and performance is urgently needed.

### The DFI Transparency Index

Publish What You Fund launched the first edition of the DFI Transparency Index in January 2023. The DFI Transparency Index is a comparative measure of the transparency of the world’s leading Development Finance Institutions (DFIs). It assesses sovereign (public sector) and non-sovereign (private sector) operations of multilateral and bilateral institutions, based on a robust methodology.
DFIs have been growing in scale and significance, and they play a crucial role in economic development. In a context of mounting global crises, it is vital that DFIs use their resources in the most impactful way possible. But a lack of transparency limits our ability to ensure that DFIs are generating positive development results, mobilising private finance, and managing environmental, social and governance risks. Publish What You Fund launched the DFI Transparency Index to assess current levels of transparency and to encourage and guide improvements. The first edition acts as a baseline from which future progress can be assessed.
Key findings of the 2023 DFI Transparency Index include:
* Overall, DFIs are not transparent enough. This is especially the case for non-sovereign operations.
* DFIs are not providing evidence of impact, data regarding mobilisation, or proof of accountability to communities. For many DFIs basic information about their investments is not publicly available.
* But progress is being made – use of and adherence to the standards laid out in the DFI Transparency Tool are guiding the efforts of leading DFIs who have improved their disclosure over the last two years. Many of the DFIs included in the Index have committed time and resources to improve the transparency of their operations.
* The International Finance Corporation (IFC) was ranked as the most transparent non-sovereign DFI in the assessment, scoring 54.4 out of 100. The Asian Development Bank (AsDB) was ranked as the most transparent DFI in the analysis of sovereign operations, scoring 75.9 out of 100.

### Other activities

Publish What You Fund works collaboratively with a broad range of stakeholders - including donor agencies, development finance institutions, research bodies, CSOs and UN agencies. It advocates for transparency in aid, development, humanitarian and climate finance flows, based on detailed research and analysis of published information. Recent topics have included tracking funding flows to local organisations, the mobilisation of private finance for development and examining funding flows for women’s economic empowerment and gender equality.

### Why aid transparency matters

As a principle, aid information should be transparent. Whether it is public or private money, if its purpose is to improve the lives of others, aid affected peoples and other stakeholders should be able to see how much is being spent, where, why, when and how. Without it, how can there ever be independent scrutiny of and accountability for this vital resource? Simply disclosing aid spending deters governments from making ill-informed decisions and reduces the likelihood of conflicts of interest.
Transparency has many purposes. The role of accountability and coordination, part of the aid effectiveness movement since its inception, is now established. What is less developed – but is of at least equal importance – is using the information as a means for strong engagement with local and national actors – country governments, civil society, and advocates. This helps create the path for locally led development, a policy goal that has long been sought by advocates and which is now gaining traction among donors. Robust engagement with local actors can enable the shift in power to those who are too often excluded but are best positioned to know both the priorities and how best to reach communities that the resources are aimed at.
Transparency can also help a diverse range of stakeholders improve the effectiveness and efficiency of aid and development finance. As we enter the second decade of the aid transparency movement, there are a variety of examples where the availability and accessibility of up-to-date and comprehensive aid data is leading to better aid. Having a more complete data set, and more tools to access the data, is enabling more people to use the data to inform evidenced-based policy and funding decisions.