World Bank Fueling Climate Change, Philippine Groups Allege in Historic Complaint
(Washington DC, October 11, 2017) – More than 100 citizen groups and affected communities in the Philippines today filed a historic complaint against the International Finance Corporation (IFC), the World Bank’s private-sector arm. The complaint accuses the IFC of fueling global climate change through its opaque investments in a Philippine bank that is a major financier of the coal industry. This is the first climate change-related complaint received by the IFC’s independent watchdog, the Compliance Advisor Ombudsman.
New tools: Empowering communities to defend their rights in private sector investments
Inclusive Development International is pleased to announce the publication of two new action resources for communities impacted by private sector investments. The Community Guide to the International Finance Corporation is a resource for people affected by IFC-funded projects. The guide is designed to help communities understand their rights and entitlements vis-a-vis IFC projects and to decide […]
World Bank implicated in violent evictions for Guinea gold mine, victims file complaint with accountability office
A group of displaced people in northeastern Guinea has filed a formal complaint with the World Bank’s private-sector arm, the International Finance Corporation (IFC), for its role in supporting a mining company that grabbed their land and left them destitute. The complainants are artisanal gold miners, merchants and smallholder farmers, whose ancestors have lived in […]
IFC still failing to track impact of investments on local communities, reports say | Devex
Two new reports, one of which is by the IFC’s own watchdog, have criticized the World Bank’s private sector lending arm for negating its duty to make sure the high risk investments it makes to intermediaries are not causing environmental and social damage to communities further down the financing line. READ FULL ARTICLE ▶
Out of control: The World Bank’s reckless private sector investments in Southeast Asia exposed
Dozens of harmful and high-risk projects in Southeast Asia have received hidden funding from the World Bank Group, an ongoing investigation by Inclusive Development International has revealed. The International Finance Corporation (IFC), the World Bank’s private-sector arm, is surreptitiously channeling money to these projects through for-profit financial intermediaries, such as commercial banks and private equity […]
New report reveals the World Bank’s murky financial entanglements with India’s most irresponsible corporations
The World Bank Group is covertly funding some of India’s largest and most reckless corporations, according to the results of an ongoing investigation by Inclusive Development International.
More Evictees May Have Recourse Through IFC – The Cambodia Daily
Rights groups say families being forced off their land by development projects recently revealed to have World Bank Group backing could probably file successful complaints against the […]READ FULL ARTICLE ▶ Photo: Villagers in Stung Treng province gather in March last year ahead of a ceremony to curse the officials and businessmen behind the Lower […]
World Bank secretly funding coal explosion in Asia despite President Kim warning, “We are finished”
The World Bank Group has secretly funded a coal boom in Asia despite announcing a moratorium on such projects in 2013, according to the results of a new investigation.
Major Breakthrough in Mediation Between Hoang Anh Gia Lai Company and Fourteen Indigenous Villages
(Siem Reap) – A major breakthrough was reached in the mediation between fourteen Cambodian indigenous communities and the Vietnamese rubber firm Hoang Anh Gia Lai (HAGL), during meetings held this week in Siem Reap, Cambodia. On 15-19 September 2015, community representatives of fourteen indigenous villages affected by HAGL’s land concessions in Ratanakiri province, company representatives of HAGL and its subsidiaries, and the communities’ advisors, including Inclusive […]
Billions in “out of control” IFC investments into third parties causing human rights abuses around the world
The International Finance Corporation has little accountability for billions of dollars’ worth of investments into banks, hedge funds and other financial intermediaries, resulting in projects that are causing human rights abuses around the world. The claim is part of a new report by Oxfam, Inclusive Development International and other NGOs, released a week before the World Bank […]