New CSO Recommendations for IFC Financial Intermediary Safeguards Include a Dedicated Chapter on Microfinance

New CSO Recommendations for IFC Financial Intermediary Safeguards Include a Dedicated Chapter on Microfinance

Vonsophia

The ongoing review of the IFC Performance Standards presents a rare opportunity to strengthen safeguards for financial intermediary investments. A new joint submission by civil society organizations outlines recommendations for a dedicated Financial Intermediary Safeguard that would better address the environmental, social, and human rights risks associated with indirect finance. I had the opportunity to…

Joint statement on IFC’s Cambodia Decision and the Integrity of Financial Inclusion

Joint statement on IFC’s Cambodia Decision and the Integrity of Financial Inclusion

Vonsophia

37 leading microfinance experts, civil society organizations, and borrower protection practitioners have issued a joint statement following the IFC Board’s decision this week to exclude ongoing and future microfinance financial consumer protection complaints from the mandate of IFC’s independent accountability mechanism, the Compliance Advisor Ombudsman (CAO), pending discussion of the relevant policy issues. They warn…