A new monitoring report by the Compliance Advisor Ombudsman concludes that the IFC still lacks a mechanism to determine whether its financial intermediaries investments do no harm or have a positive development impact
Civil society groups criticise IFC investments worth hundreds of millions of dollars in mining projects in Guinea, Mongolia and Armenia for potential negative social and environment impact.
Joint statement by Bretton Woods Project, Eurodad and Oxfam International highlights a new report from the World Bank's watchdog, criticising the IFC's lending
A letter from civil society in response to the IFC's lesson learned briefing
IFC criticised over Tata Mundra coal power plant in India, for ignoring recommendations from its accountability mechanism.
The effectiveness of the Bank's accountability mechanisms relies on the extent their findings are accepted by Bank management. In three recent cases the Bank president has not responded seriously to their findings. The mechanisms must be made powerful and independent enough to hold the Bank to account.
Q: How do you train the board? Organise orientation of new Board members, are often…
An IFC investment in ANZ Royal Bank has been criticised after the bank was implicated in a “massive land grab” in Cambodia. Further cases from Guatemala and Honduras reinforce calls for IFC to rethink its investments in financial intermediaries.
This letter was written to respond to an IFC 6 January 2014 reply to a November 2013 civil society letter about the International Finance Corporation’s action plan to reform lending to the financial sector. The 26 groups signed on to the letter believe the IFC’s action plan is inadequate and urge the head of the IFC to do more to address the audit’s findings.
The World Bank’s push for ‘climate-smart agriculture’, including a new joint initiative, was criticised by CSOs. An Inspection Panel case on forced labour in Uzbekistan cotton fields was postponed for up to 12 months.