News Column

Islamic Development Bank Partners with World Bank on AidFlows

June 25, 2014



WASHINGTON, June 25 -- World Bank issued the following news release:

The Islamic Development Bank (IsDB) today became the newest member of AidFlows (www.aidflows.org), an online aggregator of data tracking the global flow of development funding.

The addition of IsDB data to AidFlows expands the data landscape with a more detailed focus on flows in IsDB member countries and sheds light on the Islamic Finance instruments that the IsDB can offer. IsDB's 56 member countries are also members of the Organisation of Islamic Cooperation (OIC). The launch coincides with the IsDB's 40th anniversary.

AidFlows, a joint World Bank-OECD website, is organized by sources and uses of funds. Users can view data on outflows or inflows by contributor or recipient country, showing development finance information aggregated by the World Bank, OECD, and the other partner multilateral development banks.

"We, at the IsDB, place great value on our partnership with AidFlows and fully subscribe to its inclusive philosophy and approach to improving information disclosure and transparency. Our joining of the AidFlows initiative takes a particular significance as we gear up to celebrate 40 years to the service of development," said Ahmet Tiktik, Acting Vice President Cooperation and Capacity Development at IsDB.

"New sources of data provide greater accuracy and transparency, making more information available to policy makers and decision makers to help them make informed decisions," said Joachim von Amsberg, the World Bank's Vice President of Development Finance (DFi). "We very much welcome the IsDB's partnership with AidFlows."

AidFlows is the result of a partnership between the OECD, the World Bank, the African Development Bank, the Asian Development Bank, the Islamic Development Bank, and the Inter-American Development Bank. AidFlows was launched at the 2010 Annual Meetings as part of the Bank's Open Data Initiative to make global data on development funding more easily accessible. While initially sharing World Bank and OECD data, the expansion of AidFlows has been made possible by the open data initiatives within various governments and public and private institutions around the world.

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