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Joint letter to incoming World Bank President

Inclusive Development International joined 16 other organizations to send a letter to the new President of the World Bank Group, Mr. Ajay Banga, expressing concern that the institution is moving ahead with its Evolution Roadmap and plans to scale up lending to address the global climate and other crises without adequate safeguards in place. We […]

Our comments on IFC/MIGA’s proposed ‘Approach to Remedial Action’

Inclusive Development International submitted comments urging the World Bank Group members to substantially strengthen their proposed ‘Approach to Remedial Action’ for communities harmed by their investments, in line with international human rights standards. In February 2023, the International Finance Corporation (IFC) and Multilateral Investment Guarantee Agency (MIGA) of the World Bank Group published their draft […]

Joint CSO Statement Calls on IFC and MIGA to Strengthen its New Approach to Remedial Action Policy

Inclusive Development International joins an alliance of civil society organizations to assert that a newly released proposal on remedial action by the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA) falls short of expectations and fails to provide a comprehensive plan for delivering remedy to affected communities. If IFC and MIGA cannot […]

Watchdog Slams World Bank Group for Helping Bankroll Philippines Coal Boom

MANILA, Philippines – The World Bank Group’s private lending arm, the International Finance Corporation (IFC), violated its own environmental and social protection policies  as it helped bankroll a disastrous coal boom in the Philippines, according to an independent investigation made public today. In its report, the IFC’s internal watchdog, the Compliance Advisor Ombudsman (CAO), calls […]

World Bank watchdog to review risky Dairi Prima Mineral mine project in North Sumatra

(Medan, Indonesia) The independent accountability office of the International Finance Corporation (IFC), a World Bank Group member, will assess the bank’s compliance with its environmental and social policies in connection with its ties to a controversial mining project in North Sumatra, Indonesia, according to a new report from the Compliance Advisor Ombudsman. The proposed Dairi […]

New Guide For Making Accountability Mechanisms More Effective

The Good Policy Paper: Guiding Practice from the Policies of Independent Accountability Mechanisms, published today, is a roadmap for financial institutions setting up new independent accountability mechanisms (IAMs), as well as a tool for existing IAMs to evaluate the effectiveness of their current policies. The Good Policy Paper examines the policy provisions currently in place […]

Over 200 civil society groups call for suspension of IFI loans to Myanmar following military coup

Inclusive Development International joined over 200 civil society organizations from Myanmar and globally in urging international financial institutions like the World Bank, International Finance Corporation and Asian Development Bank to immediately freeze loans and other financial assistance to Myanmar in light of the recent military coup.   The statement calls on the international financial institutions […]

Bowing to public pressure, Rizal becomes first bank in Philippines to exit coal

No Coal

Rizal Commercial Banking Corporation (RCBC) made the announcement after years of pressure from climate activists in the Philippines and  an investigation of the bank’s practices by one of its most prominent shareholders, the World Bank Group’s International Finance Corporation. “[N]o more coal. I’ll say that slowly: no more coal,” said the bank’s president and CEO, Eugene Acevedo, at […]