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CSO letter to WB President Kim: IFC action plan to address failures of investment in the financial sector is inadequate

Added 28 Nov 2013
More than 50 civil society groups from around the world, including Eurodad and its members, have sent a letter to World Bank President Jim Yong Kim. The letter is the latest in a long line of correspondence with civil society after an audit was released earlier this year by the Compliance Advisor/Ombudsman – the IFC’s arm’s length watchdog – of its lending to the financial sector.
 
Signatories of this letter believe that the IFC's response to the findings of the audit is inadequate and urges the Bank's president to insist the IFC do more to address the audit's findings. In light of the new World Bank Group Strategy, which President Kim emphasises has the private sector as a central focus, CSOs believe it is time to revise the IFC’s strategy for investment in financial markets.
 
Please find the full letter attached (English).

Click here for the full letter in Spanish.
 
Click here to read to first letter sent on 12 March 2013.
 
Click here to read WB President Kim's reply on 18 April 2013.