CoST is a multi-stakeholder initiative with 15 participating countries spanning four continents. Launched in 2012, CoST grew out of the lessons learnt from a three-year pilot programme which tested the viability of a new transparency and accountability process in eight countries. CoST promotes transparency by disclosing data from public infrastructure investment. This helps to inform and empower citizens, enabling them to hold decision-makers to account. Informed citizens and responsive public institutions can lead to the introduction of reforms that will reduce mismanagement, inefficiency, corruption and the risks posed to the public from poor infrastructure. CoST works at the national and international level to facilitate the global exchange of experience and knowledge on transparency and accountability in public infrastructure. In so doing, CoST works closely with other global transparency initiatives like the Open Government Partnership and the Open Contracting Partnership.
Without significant improvements in the delivery of public infrastructure, up to US$5 trillion could be lost annually by 2030. An international effort to improve infrastructure delivery is therefore essential.
CoST is spearheading international efforts by strengthening transparency and accountability in public infrastructure. We need this focus on transparency and accountability as it creates better value for governments, private sector and communities.