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Reviews of World Bank Group’s accountability mechanisms too important to be done in secret

You would be forgiven if you didn’t know that the International Finance Corporation (IFC), the World Bank’s private sector lending arm, was reviewing its accountability framework, including the effectiveness of its independent accountability mechanism (IAM), the Compliance Advisor Ombudsman (CAO) (see Observer Winter 2018). Despite the importance of the process, in particular given the numerous documented cases in which IFC financing has resulted in harms to communities (see Observer Spring 2015), the only publicly available information about the review is a brief announcement made in October by the IFC and the Multilateral Investment Guarantee Agency board of directors.