The World Bank's Knowledge and Learning Council and the World Bank Open Finances program cordially invite you to a Knowledge Conversation on "Open Finances: Getting to the Next Level for Better Development Results" hosted by Managing Director Mahmoud Mohieldin on Wednesday September 5th, 12:30-2:00 PM in the Preston Auditorium. Lunch will be provided. (Join us at 12:15 for a pre-event demo of the new World Bank Finances mobile application.)
Watch Live: Webcast Link
Participate on Twitter (Tweet Questions & Follow): #WBFinances
Chair: Mahmoud Mohieldin, Managing Director, The World Bank
Dr. Huguette Labelle, Chair of the Board of Directors, Transparency International
Mr. Charles McDonough, Acting CFO and VP & Controller, The World Bank
Ms. Melody Hildebrandt, Commercial & Forensic Accounting Practice Leader, Palantir Tech
The World Bank recognizes that transparency and accountability are essential to the development process and central to achieving the Bank's mission to alleviate poverty. The Bank's commitment to openness is also driven by a desire to foster public ownership, partnership and participation in development from a wide range of stakeholders. As a knowledge institution, the World Bank is realizing its commitment to share its knowledge freely and openly. This discussion is about the next steps.
Through the Knowledge and Learning Council-sponsored second Knowledge Report, the World Bank is also investigating innovative knowledge products and services in which the Bank can play a connector role to deliver better results from development knowledge. Key aspects of the Bank’s connector role are knowledge sharing and increasing participation of citizens in development process for better results.
A year since its launch, the Open Finances initiative is an example of where the Bank is sharing financial data and connecting with citizens. The initiative has reached a key juncture in its maturity and now seeks to consolidate progress to date, learn from both public and private sectors, and to envision an open finance knowledge agenda and taking it to the next level. In this context, the World Bank seeks to learn from the experiences of the governments of the United States and the Slovak Republic, and companies such as JP Morgan Chase. These entities are at varying stages of opening up and connecting financial data, applying innovative methodologies and know-how, and empowering and engaging citizens to play a potentially transformative role in reducing fraud, waste, and corruption.
Join us to:
Discover the Story of Open Financial Data: Open data embodies the intersection of many global trends, including a greater push for transparency, an increasing demand for innovation in aid delivery and tracking, a better understanding of the power of civic engagement in development, and the rapid evolution of new technologies. Open financial data at institutions like the World Bank represent an exciting first step towards large-scale public participation in development processes.
Understand Technology's Growing Role: Cutting edge technology and creative methodologies have been applied to financial data to fight fraud and corruption- Examples include tracking abuse of stimulus funds by the US Recovery Accountability and Transparency Board and improved anticipation of fraud by companies like JP Morgan Chase. Technology has also streamlined and spurred new methods of civic engagement, data collection, and knowledge.
Explore the Future of Open Financial Data: Unlocking the predictive power of open financial data and responding to the demand for greater accountability and assurance (by both donors and beneficiaries of development aid).
When & Where
World Bank Finances
World Bank Finances is an open financial data project that is a part of the World Bank's larger Data Initiative. The project consists of an open finance data platform and a mobile application, both of which seek to make financial information about the World Bank's activities re-useable, transparent, and more meaningful to the public.