OPIC, other international finance institutions to work toward harmonizing the way they track development results
Development Finance Institutions (DFIs) such as OPIC strive to measure the local impact of their investments, but have different methods for doing so. And, when they work jointly with the same clients, they sometimes request the same information in different ways, creating a reporting burden on clients.
Last month, twenty-five DFIs including OPIC signed a memorandum in which they agreed to an initial set of harmonized indicators and to continue collaboration in tracking the development results of their operations.
“This is a great first step toward more harmonized reporting. This work has established a framework of common indicators and also a network through which we can share learning and experience in results measurement with our partner organizations,” explains Margaret Kuhlow, OPIC Vice President, Office of Investment Policy, which handles project monitoring.
While not every DFI will use all the harmonized indicators identified, each DFI plans to incorporate agreed indicator definitions within their development results systems within one year from the October 12, 2013 signing date of the memorandum. The agreement is not legally binding, but is considered an administrative arrangement between the DFIs. Many of the DFIs will continue to use additional reporting indicators that help track specific missions and mandates.
Below is a list of the DFIs that signed the memorandum:
- Asian Development Bank
- African Development Bank
- Belgian Investment Company for Developing Countries
- Banque Ouest Africaine de Developpement
- Black Sea Trade and Development Group
- CDC Group
- Compania Espanola Financiacion del Desarrollo
- Deutsche Investitions- und Entwicklungsgesellschaft MBH
- European Bank for Reconstruction and Development
- European Investment Bank
- Finnish Fund for Industrial Cooperation Ltd.
- Netherlands Development Finance Co.
- Inter-American Development Bank
- Inter-American Investment Corporation
- Islamic Corporation for the Development of the Private Sector
- International Finance Corporation
- Investment Fund for Developing Countries
- Multilateral Investment Guarantee Agency
- Norwegian Investment Fund for Developing Countries
- Oesterreichische Entwicklungsbank
- Overseas Private Investment Corporation
- The Private Infrastructure Development Group Trust
- Societe de Promotion et de Participation pour la Cooperation Economique
- Swiss Investment Fund for Emerging Markets
- Swedfund International AB