WB launches new ‘tool’ vs poverty

The World Bank launched on Tuesday a program that seeks to assist policy-makers and other stakeholders engaged in poverty-reduction work.

Dubbed as “Open Development,” the bank said it is anchored on “access to information, open data and knowledge and open operations and tools.”

“Open Development provides free, accessible and easy-to-use information such as economic and trade statistics, information about development aid and projects and data about populations,” it added.

The Access to Information Policy helps strengthen public ownership and promote transparency and oversight of bank-supported projects.

Open Finances for financial data and budgets and Open Tools for statistical and analytical purposes are used to forecast, measure, compare and track development progress and results.

Right know-how and appreciation of these tools can aid in research and reporting, the World Bank said. It added that it is “actively working” to make its operations and research more open, transparent and accountable and to open up the way it develops its research and knowledge.

The World Bank said it collects a wealth of data and knowledge about its clients and their economies and on complex development topics.

“This information has the potential to improve development projects and spark innovative thinking around development challenges. Opening up our data and development knowledge allows a more robust picture of development to emerge,” it added. –JENNIFER A. NG / REPORTER, Businessmirror