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Who Pays When Banks Assess Risks Inaccurately?
July 2024
Development financial institutions (DFIs) assign risk categories to investment projects to gauge potential harm to local communities and the environment. These risk categorizations are crucial because they trigger safeguards designed to prevent and mitigate harm. Despite these systems, complaints often reveal significant adverse impacts across all risk categories, raising questions about the effectiveness of current assessments.
In this month’s newsletter, we explore how current risk assessments and safeguard measures may fall short in protecting communities through a deep dive into risk categorization data and complaint data.
Research: Banks Do Not Assess Project Risks Accurately. People and our planet pay the price.
By Megumi Tsutsui — July 2, 2024
Accountability Spotlight
Noteworthy updates on Bank and IAM policy and practice
External Review Report Recommends Sweeping Changes to the AIIB's Independent Accountability Mechanism
The external reviewer’s report focused on improving visibility, accessibility and effectiveness of AIIB's Project Affected People's Mechanism. The policy recommendations are wide ranging, timely, and crucial to direct the PPM policy toward the baseline of international good practice.
U.S. DFC Launches Consultation on its Independent Accountability Mechanism
The U.S. International Development Finance Corporation is accepting feedback on draft Terms of Reference for its Independent Accountability Mechanism until 30 July. To submit comments, email accountability@dfc.gov .