(Eurodad, Brussels, 8 February 2013) Campaigners are calling for a fundamental overhaul of World Bank lending to financial markets actors, following the publication of an Ombudsman’s audit showing that the International Finance Corporation (IFC) “knows very little” about the environmental or social impacts of its financial market lending. The IFC is the World Bank’s private sector lending arm with a stated objective to ensure that any financing does not result in harm to communities and the environment and its Performance Standards form the core of the OECD’s Common Approaches for official export credit agencies.
