...Despite  some  strengths, in many areas the Interim Policy fails to meet the minimum information disclosure standards established by international law and the practice of other international financial institutions (IFIs). As a result, there is a clear need for fundamental revision of the rules regarding the disclosure of information at the AIIB, whether this is done  by  amending  the  Interim  Policy  or  by  adopting  a  new  comprehensive  policy.  This need  is particularly  urgent  since  the  AIIB  has  now  begun  to  finance  projects...Key  areas  for  improvement  of  the  rules  include the  development  of  detailed  procedures relating  to  the  processing  of  requests,  which is  something other  IFIs  have put  in  place. The  system  of  appeals  also needs  development, most  importantly  because  it  currently fails to provide for an independent appeal, such as are found in a growing number of IFI information disclosure policies. But the most significant need for reform is the regime of exceptions,  which  determines  the  line  between  what  information  is  public  and  what  is not...Finally,  the  AIIB  must also significantly  strengthen its  steps  to  implement  the  Policy  in  practice,  in  particular  by ensuring that requests are processed in accordance with the rules...