Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 2 of 2
Full-Text Articles in Law
Legal Risk And Accountability In Development Finance: Lessons From Jam V. International Finance Corporation, Michelle Harrison, Shannon Marcoux
Legal Risk And Accountability In Development Finance: Lessons From Jam V. International Finance Corporation, Michelle Harrison, Shannon Marcoux
Perspectives
In a landmark decision in 2019, the U.S. Supreme Court ruled in Jam v. International Finance Corporation that international organizations like the International Finance Corporation (IFC), the private lending arm of the World Bank Group, can be sued in U.S. courts, ending the “absolute immunity” from suit that they had long claimed. The Jam lawsuit arose out of IFC’s gross mishandling of the Tata Mundra coal-fired power plant project in Gujarat, India, which has destroyed the livelihoods, environment, and way of life of local communities living in its shadow. The lawsuit, and especially the clash between IFC’s sweeping assertions of …
World Bank's Roadmap And The Inspection Panel's Human Rights Responsibilities, Juan Pablo Bohoslavsky, C.P. Chandrasekhar
World Bank's Roadmap And The Inspection Panel's Human Rights Responsibilities, Juan Pablo Bohoslavsky, C.P. Chandrasekhar
Perspectives
The World Bank has been under pressure to devise a process for “evolving” its mission, operations, and resources, acknowledging that decades of engagement with low- and middle-income countries has resulted, paradoxically and contrary to its official mission, in a “crisis of development.” The Bank bluntly notes in the opening to its paper “Evolving the World Bank Group’s Mission, Operations, and Resources: A Roadmap,” issued in December 2022, “after decades of progress, growth and poverty reduction have stalled.” Indeed, this “crisis of development” threatens to unleash political instability around the world.