IFC investments through financial intermediary investments linked to land grabs and displacement in Africa. CSOs critique proposed changes to IFC lending policies.
As the IFC sets out a new strategy, CAO and CSO reports have raised further criticism over its investment in financial intermediaries, and a new law suit challenges its immunity.
CSOs have refused to participate in a World Bank PPP consultation until transparency and accountability concerns are addressed.
CAO report validates 2013 complaint by Indian NGOs on IFC investment in colonial tea plantation in Assam. The IFC's action plan is very limited in scope.
Report finds Development Finance Institutions (DFIs) are not doing enough to eliminate the risk of public money being complicit in tax avoidance schemes.
While the recent reforms to the IMF and World Bank governance reforms and the establishment of new Southern-led IFIs are symbolically important, they are thus far not a rupture with the Western-dominated international financial architecture.
A new complaint was lodged with the CAO regarding an IFC financial intermediary investment in Honduras, while another financial intermediary case, previously linked to the IFC, escalate into violence.
UN votes in favour of accepting new principles to guide sovereign debt restructuring, as CSO report warns of risk of new crises linked to aid and multilateral lending.