How does IFC deal with alleged or demonstrated violations of the performance standards by a client?
After IFC financing is committed, IFC monitors its investments as part of its portfolio supervision. This supervision involves the review of monitoring reports prepared by the client, independent audits, and supervision visits by IFC. If any non-compliance is identified, IFC works with the client to bring them back into compliance. If this fails, IFC can exercise other remedies, such as withdrawing from the project. Accountability is highly important to IFC. Individuals and communities adversely affected by an IFC-funded project have the opportunity to address their concerns and grievances to the Compliance Advisor/Ombudsman (CAO) office, an oversight authority independent from IFC which reports directly to the President of the World Bank Group.
Related Questions
- Why does the IFC have a different set of environmental and social Performance Standards from the World Bank, and how do they differ from the World Bank safeguard policies?
- How does IFC deal with alleged or demonstrated violations of the performance standards by a client?
- How does IFC apply its Environmental and Social Performance Standards?
