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Strong safeguards are needed when investing public money via private financial intermediaries

Martin Atkin

25 Jan 2018 14:38:46

You wouldn’t just hand your money over to someone else to invest without asking them what they were going to do with it, would you? If you were a public body, at the very least you’d want to make sure it wasn’t used in a way that damaged the environment or undermined human rights. Increasingly, however, there are concerns that development finance institutions (DFIs - government-backed institutions that invest in private sector projects in developing countries) - are lending money to private sector financial intermediaries (FIs) to invest in infrastructure projects in developing countries - without ensuring that proper environmental and social safeguards are in place. These intermediaries - private commercial banks, private equity funds and infrastructure funds - are essentially go-betweens ...
Public Private Partnerships (PPPs) are not transparent enough, and face criticism from civil society organisations (CSOs) and others for being too expensive, and a risky use of taxpayers’ money. On Monday (29 February) more than 50 CSOs have written ...
In a submission this week, Eurodad together with more than 50 members and partners from the North and South commented on the draft framework suggested by the World Bank Group on disclosure in public-private partnerships (PPPs).  Read the full submission ...
Read Eurodad's full statement to the OECD DAC High Level Meeting and press release on how the world's poorest should not pay for the security and defence of Europe. Today, Eurodad's director Jesse Griffiths spoke at the OECD Development Assistance ...
by Maria Jose Romero and Xavier Sol (Counter Balance) The European Investment Bank (EIB) has become one of the giants of the financing landscape – its lending was 77.5bn EUR in 2015 – and yet it remains highly unaccountable and opaque. Civil society ...
Those of you who followed the Financing for Development (FfD) conference in Addis Ababa this July will have noticed that the Addis Ababa Action Agenda embraced private finance as a central tool to finance the recently endorsed post-2015 Sustainable Development ...

The Inter-American Development Bank excludes civil society just as it revises its work with the private sector

Maria Romero

27 Mar 2014 15:30:52

By Patricia Miranda, Latindadd and María José Romero, EurodadJust when we thought development banks were becoming more accountable, the Inter-American Development Bank (IDB) not only slams its door on civil society participation, but does so at a crucial moment for its institutional reform process.The 2014 Annual Meeting of the IDB’s board of governors held this weekend (27-30 March) in Bahia, Brazil, excludes civil society organisations for the first time since 2006. This is a massive step backwards from a former inclusive approach, especially when the IDB is in the middle of an internal process that will lead to substantial changes in how it works with the private sector. Since the preferred option on the table seems to be to go in the direction of the World Bank Group’s ...