Mar 17, 2017 by members
A new report by Coalition members Accountability Counsel, Bank Information Center, Inclusive Development International, and Urgewald, together with 11.11.11, Ulu Foundation, and Tarkapaw Youth Group, reveals harmful, hidden investments by the International Finance Corporation, the private sector arm of the World Bank, throughout Southeast Asia. The report chronicles how the IFC uses private intermediaries to outsource its financing decisions, thus allocating funds to projects that have not been subject to the IFC’s Performance Standards, which are intended to fully evaluate and guard against environmental and human rights risks. As a result, across Southeast Asia, IFC funding has gone to projects that have already caused serious environmental and human rights damages or that have the potential to do so in the future. For more information, read the report here.