How Financial Intermediaries Obscure Accountability

In this month's edition of the Console Newsletter, Research Associate Lama Almoayed sheds light on the accountability gap caused by the flow of development finance through financial intermediaries, such as national and regional banks, without proper safeguards. Drawing on community complaints regarding problematic World Bank projects in Kenya and Guatemala, this article examines the transparency and accountability challenges that arise when development banks use financial intermediaries, and considers whether these challenges are covered in the IFC’s draft remedial approach.

You may have also received a previous newsletter edition last Thursday; our auto-scheduler was a bit overzealous and we apologize for the mistake.