20 Feb FIDIC endorses global infrastructure transparency initiative CoST
FIDIC has announced that it has decided to endorse CoST, the Infrastructure Transparency Initiative, the leading global initiative improving transparency and accountability in public infrastructure.
Due to the synergies and aligned values between FIDIC and CoST, FIDIC has taken the decision to formally endorse CoST and the initiative’s work and to encourage FIDIC’s 102 member associations around the world to consider how the CoST approach could potentially help to improve practices in their countries.
CoST sets the standard for infrastructure transparency and related enhanced accountability. It works with government, the private sector and civil society to promote the disclosure, validation and interpretation of data from infrastructure projects. This helps to inform and empower citizens and enables them to hold decision-makers to account. CoST’s experience shows that informed citizens and responsive public institutions help drive reforms that reduce mismanagement, inefficiency, corruption and the risks posed to the public from poor quality infrastructure.
In addition to working with its members at the national level, CoST works with key international organisations to facilitate the global exchange of experience and knowledge on transparency and accountability in public infrastructure.
Commenting on the decision to endorse CoST, FIDIC chief executive Dr Nelson Ogunshakin said: “FIDIC and CoST have developed internationally recognised standards and guidelines that contribute variously to improved transparency and integrity in the planning, design, tender management, implementation, contract administration and related supervision of infrastructure project delivery. CoST’s work curbing the ‘supply side’ of corruption complements FIDIC’s activities to increase transparency through tools such as the FIDIC Integrity Management System and the Government Procurement Integrity Management System. We therefore see significant complementary benefits in collaboration and endorsement of the CoST initiative in the global fight against corruption.
CoST executive director, Petter Matthews said: “FIDIC has a truly global reach and it is a legitimate voice for the international consulting industry. Having its support sends a positive signal to all those concerned about improving the governance of infrastructure investments. Our values and priorities are closely aligned and we share a commitment to improving the systems and procedures used to deliver infrastructure and services. We want to tap into the knowledge and experience of FIDIC members and are certain that our efforts will be strengthened through our association.”
FIDIC president Bill Howard said: “I’m delighted that FIDIC has decided to endorse CoST and work together in the global fight against corruption. FIDIC will encourage its regional groups and 102 global member associations to examine how the CoST approach could potentially serve as a catalyst for improved practices in their national markets by raising awareness and providing best practice information. Corruption has no place in the infrastructure sector or anywhere else and FIDIC is proud to be playing its part in rooting it out.”