2 December - Concerns Over IFC Lending Through Financial Intermediaries (BWP / Eurodad)
Two papers call for a reformulation in IFC's approach to lending. Noting increasing IFC reliance on intermediaries such as banks and private investment funds, this Bretton Woods Project paper finds a lack of transparency, inadequate attention to social and environmental concerns, and failure to link directly to development impacts. This Eurodad report has found less than 20% of IFC support in LICs since 2008 went to companies from LICs, instead concentrating in 8 major projects and rich country firms. It questions the process for project selection, and motivations to invest driven by financial returns rather than LIC needs.
