OXFAM [to 4 April 2015]
http://www.oxfam.org/en/pressroom/pressreleases
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Billions in “out of control” IFC investments into third-parties causing human rights abuses around the world
2 April 2015
IFC investment portfolio in financial intermediaries grows to $36 billion in four years – three times as much as World Bank global education lending – needs urgent reform
The International Finance Corporation has little accountability for billions of dollars’ worth of investments into banks, hedge funds and other financial intermediaries, resulting in projects that are causing human rights abuses around the world.
The claim is part of a new report by Oxfam International and other NGOs, released a week before the World Bank Spring meetings. “The Suffering of Others” says that the IFC (the World Bank’s private sector lending arm) is failing to perform due diligence and to identify or effectively manage risk in many of its investments in third-party lenders…