Post by Accountability Counsel

For the first time in IFC - International Finance Corporation's history—and indeed the history of all multilateral development banks—the IFC’s board overruled and rejected its accountability mechanism’s investigation finding that microfinance lending in Cambodia did not comply with IFC’s environmental and social rules. The board’s decision undermines the predictability and credibility of the Office of the Compliance Advisor Ombudsman (CAO), the IFC’s accountability mechanism. Commensurate with the gravity of this harmful board decision, the Director General of the CAO resigned. It took only a few days for over 60 organizations and individuals to condemn the board’s decision and demand an explanation, and that list is growing. Please join us in expressing alarm and demanding justice. See our statement here ➡️ https://bit.ly/3RaJEYY