The Asian Infrastructure Investment Bank (AIIB) “is lagging behind other international financial institutions when it comes to information disclosure,” according to an analysis by the Centre for Law and Democracy (CLD) and the Bank Information Center (BIC).

The jointly prepared comments on the AIIB’s Public Information Interim Policy were sent in preparation for the first annual review of the Policy, due in January 2017.

Some of the key problems with the Interim Policy are:

• The scope of proactive publication commitments lags far behind better practice IFIs.
• The regime of exceptions is vastly overbroad, including many open-ended exceptions, lacking harm tests in many cases and failing to provide for any public interest override.
• The failure of the AIIB to adopt guidelines on implementation means that the Interim Policy lacks almost any procedural rules governing the processing of requests.
• Unlike many IFIs, there is no provision for an appeal to an independent oversight body.
• As a matter of practice, the AIIB has on at least some occasions failed to process requests for information.

CLD called on AIIB to undertake a wide-ranging consultation on the Interim Policy as part of its first annual review and then to introduce major changes so as to bring the rules more into line with the practice of other IFIs.

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Filed under: IFTI Watch