IFI governance


IFC accountability: alright in theory

16 February 2009

According to the 2008 Global Accountability Report, written by UK NGO the One World Trust, the International Finance Corporation (IFC) scores well compared to other international institutions on its accountability policies. Overall the IFC, the World Bank’s private sector arm, gets a grade of 76 per cent, doing particularly well on transparency, evaluation, and complaints and response, but falling down on participation. The report looks purely at the institution’s stated policies, and has been criticised for giving a rosy tint to organisations whose accountability has been found wanting in practice. The 2007 report drew fierce criticism from the NGO Forum on the Asian Development Bank (ADB), who called its figures “highly questionable” and its assessment of the ADB “greenwash”.