An assessment of transparency and accountability mechanisms at the European Investment Bank and the International Finance Corporation
Development finance has changed substantially over the past decade. Private finance has replaced aid at the centre of global and national development initiatives, for both governments and international bodies. Development finance institutions (DFIs) have become the embodiment of this agenda. As public institutions with a development mandate, they have a responsibility to operate in a transparent and accountable manner.
DFIs are government-controlled institutions that support the private sector in developing countries and seek to mobilise additional private finance.
This briefing focuses on the two largest multilateral DFIs: the EU’s European Investment Bank (EIB) and the World Bank Group’s International Finance Corporation (IFC). It examines whether they are the right institutions to hold such a dominant position in development finance by looking at their levels of transparency and accountability.
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