Opinion: A critical look at the IFC’s new incentives framework
To help staff make better decisions, the International Finance Corporation is introducing a new incentives framework, which will reward achievements in development outcomes. The new framework may be a welcome step, but the World Bank Group, which includes the IFC, has said incentives will reward staff on their ability to mobilize private sector funding. It’s critical that the IFC include in their rewards scheme recognition of staff that respect human rights. This means incentivizing staff to conduct robust due diligence, meaningfully consult with communities, and productively engage with the IFC’s accountability office, the Compliance Advisor Ombudsman, as it responds to complaints from communities affected by IFC investments.
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