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The River Of Accountability Mechanisms: Then And Now, Suresh Nanwani
The River Of Accountability Mechanisms: Then And Now, Suresh Nanwani
Perspectives
In 1993, the river of international accountability mechanisms (IAMs) commenced from its source – the World Bank Inspection Panel (The Panel). In its journey the river was fed by the tributaries of similar accountability mechanisms from other development institutions, including four regional development banks – the Inter-American Development Bank in 1994, the Asian Development Bank in 1995, the European Bank for Reconstruction and Development in 2003, and the African Development Bank in 2006. It also welcomed other entities – bilateral institutions like Japan Bank for International Cooperation (2003) and Proparco (2018), United Nations Development Program (2014) and other organizations like …
"Use And Improve" Is My Accountability Mantra, Despite 30 Years Of Eye-Opening Disappointments, Natalie Bridgeman Fields
"Use And Improve" Is My Accountability Mantra, Despite 30 Years Of Eye-Opening Disappointments, Natalie Bridgeman Fields
Perspectives
This essay finds justification for championing the continued existence, functioning and evolution of Independent Accountability Mechanisms (IAMs). An inside assessment of the thirty-year functioning of IAMs reveals that inadequate power and independence are severely hampering IAM efforts to hold actors accountable for harm. Simultaneously, IAMs can’t make progress without the underlying financial institutions reforming their incentive structures to reward harm prevention and remedy. Despite decades of systemic failure to deliver accountability, when exceptions happen, they are worth it and can be spectacular. With an influx of new climate-related funding expected at the financial institutions, exceptions need to become the rule. …