IMC to conduct review of Construction Sector Transparency Initiative (CoST)
CoST works with governments, industry and communities in 15 countries to drive better value for money in public infrastructure investment and help change lives. Our review will explore how the initiative can better support communities worldwide.
Thursday 10 December 2015
Launched by DFID in 2008 as a three-year pilot initiative that has since been scaled, the country-centred, multi-stakeholder Construction Sector Transparency Initiative (CoST) promotes transparency and accountability in publicly financed construction.
Strengthening transparency and accountability in public construction curbs mismanagement, waste, and corruption and reduces risks to public safety from poor building practices.
It improves fairness in competition for contracts and can also increase the flow of foreign direct investment and development finance into a country’s construction sector.
The current programme was launched in 2012 and has been supported by grants from the World Bank and the Dutch Government. As of 2015, CoST is active in 15 countries: Afghanistan, Botswana, El Salvador, Ethiopia, Honduras, Guatemala, Malawi, Philippines, Tanzania, Thailand, Uganda, Ukraine, United Kingdom, Vietnam and Zambia.
Our review of CoST
IMC Worldwide has been commissioned by the CoST International Secretariat in London to undertake a Strategic Review of the CoST Initiative.
The assignment comprises a fundamental review of all key aspects of the CoST programme, including its vision, delivery model, governance arrangements, financing, partnerships and sustainability.
“Public infrastructure investment is at a crossroads. More than 150 world leaders have pledged to build resilient infrastructure, promoting inclusive and sustainable industrialisation, as part of the Sustainable Development Goals. CoST can support these governments to get better social, economic and environmental value from their investments but we must scale our growth strategically. I am delighted to be working with IMC Worldwide to direct CoST on the road ahead, using their expertise to develop a programme that changes more lives and more communities for the better.”
– CoST Executive Director Petter Matthews
The strategic review will last for 10 months. IMC will offer recommendations to improve the effectiveness and Value for Money of CoST and highlight how the impact can be significantly scaled up.
In light of the renewed funding support from the Department for International Development (DFID), the recommendations and strategic guidance will be used to inform a business planning process to chart CoST’s development.
As part of the review, IMC Worldwide will regularly consult an Advisory Panel composed of experts from across civil society, industry, governments and international agencies. The Advisory Panel will provide sector knowledge and review outputs to ensure credible and tangible results.
The 15 participating countries of CoST will also play an essential role in delivering insights from the ground, allowing the initiative to retain its trademark flexibility.
The first meeting of the Strategic Review team and Advisory Panel, featuring infrastructure investment experts such as the World Bank, European International Contractors, Transparency Ethiopia and Bechtel begins today.
Press release from CoST