The International Financial Corporation (IFC) has faced criticism of its activities by its internal watchdog, the Operations Evaluation Group (OEG). An internal report obtained by the Multinational Monitor criticised the IFC‘s failure to assess or monitor the social and environmental impacts of its lending activities, leaving a gap between the IFC‘s mission statement and its operational procedures. The Multinational Monitor says the bulk of IFC loans goes to lucrative but unsustainable infrastructure projects carried out by profit-driven corporations.
The World Bank’s Foray
Into Private Sector Investment
Dubious Development: The World Bank’s Foray into Private Sector Investment by Charles Gray, Multinational Monitor