New datasets on the important role played by Bank-managed trust funds are now available on the Open Finances website (finances.worldbank.org).
Website users can now explore the diversity of donors who contribute to trust funds, the recipients of these funds, the development challenges addressed by the funds, and monetary contribution/ disbursement amounts. The website makes it easy to use, reuse, and share data, including tailored visualizations that users can create through filters and easily share with social networks.
The World Bank Group portfolio consists of various types of trust funds, which have different roles globally and in the Bank Group’s activities. As of June 30, 2011, the Bank Group held $29.1 billion of funds in trust. Of this amount, $10.4 billion corresponded to trust funds managed by the International Bank for Reconstruction and Development/International Development Association (IBRD/IDA), $18.0 billion to the Financial Intermediary Funds, and $0.7 billion to trust funds managed by the International Finance Corporation.
“The expansion of the Bank’s open financial data catalog with data from significant resources like trust funds demonstrates the progress the World Bank is making in realizing its aid transparency agenda.” said Chuck McDonough, World Bank Vice President and Controller.
Axel van Trotsenburg, World Bank Vice President for Concessional Finance and Global Partnerships, noted: “The World Bank has actively encouraged openness and transparency in development, and this strategic priority applies to the trust fund portfolio, too. We welcome the release of trust fund data available in an open format that facilitates citizen participation in development.”
Consisting of a website and mobile application, World Bank Finances was launched in July, 2011 to show what the World Bank is doing with its money. In addition to trust funds, users can browse and get details on IBRD/IDA financial disbursements by county and region, the Bank’s yearly financial statements, and its administrative budget. At this time, the World Bank Finances mobile app includes IBRD and IDA financial data from current projects.
Be sure to visit the website in the coming months: planned upgrades include the addition of data on location and expenditures, which will allow users to get a more local and complete view of the Bank’s financing activities. Updates to the World Bank Finances mobile app will include additional data, availability on the Android platform, and multilingual capability in six additional languages. Data access through SMS-based technologies is also being explored.
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