Paperjam.lu

The grand duchy has signed up to the International Aid Transparency Initiative. Franz Fayot, the international development minister (LSAP), said in an announcement on Tuesday:“Transparency and accountability are key factors in sustainable aid and development politics, quality and efficiency are as important as quantity of aid, in order to understand the precise impact of our interventions.”Library picture: Franz Fayot is seen during a press conference, 22 May 2020. Photo credit: SIP / Emmanuel Claude 

“Luxembourg is strongly committed to generating reliable and open data on official development assistance channeled by itself and its national and international partners,” the foreign ministry said on 2 June.

The grand duchy became the 95th member of the initiative, which advocates for “enhanced and target-oriented aid effectiveness” and “improving the transparency of international resources to help achieve sustainable development.”

According to the foreign ministry:

“To date, IATI data covers spending on more than 1 million development projects undertaken by governments, multilateral organisations, non-governmental organisations and the private sector. This data is available, open and free to anyone in the world with internet access and supports improved coordination and effectiveness of development resources.”

The ministry said that Luxembourg contributes 1% of its gross national income towards global development, making it one of the few countries that meets the UN’s 0.7% GNI target for wealthier countries.