REDWOOD CITY, Calif., Nov. 22, 2016 /PRNewswire/ -- Omidyar Network announced today its adoption of the International Aid Transparency Initiative's data standard and that it will report data on its nonprofit portfolio on a quarterly basis. The philanthropic investment firm's measures are designed to help international development efforts by creating greater transparency and spurring information sharing within the development community.
The International Aid Transparency Initiative (IATI) seeks to improve the transparency of aid, development, and humanitarian resources in order to better tackle poverty. By adhering to the IATI data standard and reporting its grant-making activities, Omidyar Network will help: international development funders track and learn from parallel efforts at work across the globe; provide civil servants greater visibility to international investments deployed in their countries; help journalists and researchers gain insights, identify trends, and report on the effectiveness of interventions; and identify inefficiencies and opportunities across the development sector.
"We are pleased to play a small part in helping improve the efficiency and efficacy of the enormous collective efforts of international development aid," said Andrew Clarke, a principal on the policy team at Omidyar Network. "If all funders participated in the IATI standard, the entire system of international development would benefit: country systems would be strengthened, opportunities for collaboration and learning would be more apparent, and grant making would be more informed."
ABOUT OMIDYAR NETWORK
Omidyar Network is a philanthropic investment firm dedicated to harnessing the power of markets to create opportunity for people to improve their lives. Established in 2004 by eBay founder Pierre Omidyar and his wife Pam, the organization invests in and helps scale innovative organizations to catalyze economic and social change. Omidyar Network has committed more than $1 billion to for-profit companies and nonprofit organizations that foster economic advancement and encourage individual participation across multiple initiatives, including Consumer Internet & Mobile, Education, Financial Inclusion, Governance & Citizen Engagement, and Property Rights.
To learn more, visit www.omidyar.com and follow on Twitter @omidyarnetwork
SOURCE Omidyar Network