Data Doesn’t Support IFC/MIGA’s Remedy Proposal
On February 21, IFC/MIGA published a “Proposed Approach to Remedial Action” that failed to introduce any meaningful changes to current policies. Strangely, the proposal also didn’t present any data to back up its claim that existing practices are sufficient for enabling remedy. In this month’s newsletter, Policy Associate Megan Pearson analyzes the publicly available data from cases to IFC/MIGA’s accountability mechanism to determine that current practices are in fact inadequate and should be reformed.
By Megan Pearson — March 6, 2023
The IFC/MIGA’s "new" remedy proposal in fact mostly summarizes policies that are already in place. But data on complaint outcomes from the IFC/MIGA’s accountability mechanism, the CAO, indicates that current practices are failing to adequately deliver remedy to project-affected communities.
Noteworthy updates on Bank and IAM policy and practice
The proposed IFC/MIGA Approach to Remedial Action and the draft IFC responsible exit principles are available for public consultation through April 13. The feedback gathered during the consultation process will be considered as the proposed IFC/MIGA Approach to Remedial Action and the draft IFC responsible exit principles are refined.