1 December 2020

AC Joins 26 Partners to Push Back Against Illegitimate Consultation Process on DFC’s Transparency and Board Public Engagement Policies

Although transparency and stakeholder engagement are pillars for an effective development finance institution, the U.S. International Development Finance Corporation (DFC)’s recent consultation on its draft transparency and board public engagement policies does not indicate a commitment to these pillars. DFC only provided two weeks for the public to comment on these important policies, which will guide the agency’s disclosure of project-level and corporate information as well as consultations on policies and stakeholders’ engagement with the DFC’s board of directors.

On 18 November, 2020, Accountability Counsel, the International Accountability Project (IAP), and 25 partners from around the world pushed against this illegitimate process and called on the agency to extend the consultation process to ensure that the policies are shaped by the stakeholders that will be most affected by them. Moreover, the policies are substantively weak. Our letter called on DFC to revise the policies to incorporate best practice and ensure robust access to information and stakeholder engagement with DFC’s work. Our recommendations were echoed by the Columbia Center on Sustainable Investment.

Read more in IAP’s recent op-ed in Devex – DFC’s public engagement and transparency policies fail communities – and follow the link to learn more about our DFC advocacy.