CAO has released another report critical of IFC’s compliance with its own performance standards, highlighting lack of action and continued harm to affected communities.
In response to the IFC’s shaming over its involvement with Dinant corporation in Honduras, the institution produced a “lessons learned” document. However, it has been rejected by campaigners, who are demanding more fundamental reform.
IFC disagrees with concerns raised by CAO about its capacity to assess whether its investments through financial intermediaries have a positive development impact.
World Bank Group’s Independent Evaluation Group highlights that the Bank's support to business regulation reforms fails to capture the social impact of regulatory reform
A letter from civil society in response to the IFC's lesson learned briefing
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.
Khasi indigenous people in Indian state of Meghalaya have filed a complaint with the CAO over illegal land infringement by French multinational Lafarge's Bangladeshi cement plant.
IFC funded 4,000 MW coal plant Tata Mundra in India is to be investigated by ADB for negative social and environmental impacts.
An international statement, signed by 70 organisations, in response to the publication in mid January of a CAO audit and the IFC response and action plan related to IFC investment in Corporación Dinant, Honduras.