3.         The Bank reaffirms its recognition and endorsement of the fundamental importance of transparency and accountability to the development process.  Accordingly, it is the Bank’s policy to be open about its activities and to welcome and seek out opportunities to explain its work to the widest possible audience.

•         As a development organization, the Bank wishes to stimulate debate and broaden understanding of development, facilitate coordination with its partners—countries and other institutions—and help create and nurture support for activities which promote economic and social progress in developing countries.  To the same end, it makes the results of its operational experience and research available to the development and academic communities and brings the lessons of experience to policy makers, development practitioners, and other interested parties.  In addition, timely dissemination of information to local groups affected by the projects and programs supported by the Bank, including nongovernmental organizations, is essential for the effective implementation and sustainability of projects.  Experience has demonstrated that consultation and sharing of information with cofinanciers, partners, and groups and individuals with relevant knowledge of development issues help to enhance the quality of Bank-financed operations.
•         As an organization owned by its member countries, the Bank is accountable for its stewardship of public moneys and has an obligation to be responsive to the questions and concerns of its shareholders.
•         As a borrower, the Bank has established that disclosure of information concerning its financial condition and policies, additional to that which it is required to publish, helps to attract purchasers to its securities.
•         As an employer, the Bank aims to ensure that staff receive the information they need to carry out their responsibilities, to contribute to policy formulation and decision making, and to understand the reasons underlying its policies.

4.         It follows that there is a presumption in favor of disclosure, subject to the provisions of this statement.  To facilitate timely public access to Bank information, the Bank has established the InfoShop to serve as the central contact for persons seeking to obtain Bank documents.  The InfoShop, located at Bank headquarters, serves the public in member countries through the Public Information Centers (PICs) that are listed in Appendix 2 to this statement, [3]   and the internet.