International financial institutions agree to share data

Recognising the power of information to shape better policies, guide development programs, and increase accountability, UN Secretary-General Ban Ki-moon along with leaders of six multilateral financial institutions announced today that they would strengthen inter-agency sharing and collaboration on issues related to data and statistical capacity building.

This will provide the global community with better statistical tools to measure progress toward the Millennium Development Goals (MDGs) and post-2015 development agenda and improve the lives of people in the developing world.

“This historic meeting of resourceful institutions confirmed my belief that by working together we can demonstrate the power of multilateralism to secure a better future for all. The first-of-its-kind meeting and agreement will help us further deepen our joint work to meet the MDGs and develop a post-2015 agenda for a more prosperous, equitable and sustainable future,” Secretary-General Ban said.

Leaders of the African Development Bank (AfDB), Asian Development Bank, Inter-American Development Bank, International Monetary Fund, Islamic Development Bank, the United Nations, and World Bank Group signed a Memorandum of Understanding (MoU) to collaborate in strengthening statistical capacity in member countries and to facilitate the sharing of data, tools, standards, and analysis to improve statistics for monitoring development outcomes.

The European Investment Bank and the European Bank for Reconstruction and Development offered their full support for the goals of the MoU and will contribute to the post 2015 development agenda in their areas of expertise.