Securing Remedy in International Finance

International development institutions like the World Bank aim to “do no harm” to people and the environment, but far too often, bank-financed development projects — dams, electricity expansions, infrastructure, and extractive projects — do more harm than good,
especially for local communities.

Thirty years ago, CIEL helped create the first independent accountability mechanism at the World Bank, and we have spurred the creation of many others at development banks worldwide. However, development banks are still falling far short of their obligation to take responsibility when harms occur and to deliver remedy to project-affected communities. CIEL set out to change that last year.

Whether remedy takes an economic, physical, social, cultural, or moral form, ensuring effective, inclusive, and participatory policies, as well as the resources to deliver remedy within international development institutions, is critical to prioritize communities’ wishes when development projects harm their lives, livelihoods, and environment. When the initial draft proposals from the World Bank Group were insufficient, CIEL mobilized hundreds of organizations and thousands of individuals, and will continue focusing on impactful, aligned advocacy in the year ahead.

Goal

Secure policy proposals within two banks for holistic and effective remedy

Strategy

Lead global coalition to advocate for robust remedy with institutional decision makers

Targets

International Finance Corporation (IFC) and Multilateral Investment Guarantee Agency (MIGA)

Timeline

2022 – 2023

Mapping CIEL’s Support of Remedy