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Thirty Years Of Accountability In International Development: Insights From The General Counsel Of The World Bank Group, Christopher H. Stephens
Thirty Years Of Accountability In International Development: Insights From The General Counsel Of The World Bank Group, Christopher H. Stephens
Perspectives
The creation of the World Bank’s Inspection Panel in 1993 was a groundbreaking moment in international development. The first accountability mechanism of its kind, it established a precedent for accountability in development that has been followed by multiple development banks and international financial institutions over the last decades. Today, the credibility of international financial institutions rests significantly on the mechanisms that they put in place to check their own behavior and the avenues they offer for affected communities and individuals to raise questions of harm related to the projects financed by these institutions. This essay is a reflection on the …
The Critical Contribution Of Independent Accountability Mechanisms (Iams) To The Global Governance Paradigm, Owen Mcintyre
The Critical Contribution Of Independent Accountability Mechanisms (Iams) To The Global Governance Paradigm, Owen Mcintyre
Perspectives
For several decades now, the environmental and social safeguard policies adopted by international financial institutions (IFIs), along with the related accountability frameworks provided by the independent accountability mechanisms (IAMs) established by each, have been at the very forefront of a global movement to extend good environmental and social governance values to the practice of international development finance. The complex of substantive and procedural standards of institutional conduct required under multilateral development bank (MDB) safeguard policies in respect of the assessment and implementation of bank-funded development projects or activities exemplifies the phenomenon of so-called “transnational” or “global” law - the rich …