In a significant step forward for global transparency, the first-ever “Open Contracting Data Standard” was announced yesterday by the Open Contracting Partnership (OCP).

The development of a common standard for the disclosure of contracting data is a key pillar of the work of the Open Contracting Partnership (OCP)to promote disclosure and participation in public contracting – empowering citizens around the world to hold their governments to account for the estimated US $9.5 trillion they spend each year through contracts.

The development of the Open Contracting Data Standard will come as a result of the collaboration of the Open Contracting Partnership and the World Wide Web Foundation (Web Foundation), supported by a grant from Omidyar Network.

Read more here.