Strengthening the Global Financing Framework through Accountable Public Financial Management
10:00 am – 11:30 am EST
Room CR-9, Conference Building,
United Nations Headquarters,
405 E 45th St, New York City
United States
Hybrid Event
Raising funds for development is only part of the battle – ensuring these funds are spent transparently and with meaningful public participation is critical to ensuring development effectiveness and support for development finance. This side event, organized by the International Budget Partnership (IBP) and Open Contracting Partnership (OCP), will feature a discussion with two civil society organizations from the Global South on how open data on budgets and public procurement can create opportunities for public participation in agenda setting and monitoring public spending. When development aid and lending are channeled through credible and accountable budget and procurement processes, it allows clear tracking of expenditures—especially in public procurement, often a government’s highest corruption risk. Advancing reforms for more open budgets and open contracting will ensure the effectiveness of development aid and rebuild public trust.