Other Development Finance Institutions
Recourse’s work covers a broad range of Development Finance Institutions (DFIs).
In addition to the World Bank and International Monetary Fund, we target the Asian-based banks – the Asian Infrastructure Investment Bank (AIIB) and Asian Development Bank (ADB) – and Europe-based banks – the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD). We also target bilateral Development Finance Institutions such as the UK’s British International Investment (formerly CDC) and the Netherlands’ FMO.
This wide reach stems from the need to compare DFIs policies and practices with one another, to ensure that lessons are learned and best practice promoted. Our aim is to drive a race to the top among the DFIs, to ensure they put people and planet at the heart of development in everything they do.
Recourse’s work on other Development Finance Institutions
We work with and are guided by networks that focus on those other DFIs. For example, the CEE Bankwatch Network and Counterbalance on the EIB and EBRD, or the NGO Forum on ADB. We work in solidarity with these networks, contributing expertise and support.
To improve standards across DFIs, we strategically target their safeguard policies, energy and fossil fuel policies, and Paris Alignment approaches.
- For example, we have: urged EBRD to align investments with the Paris Agreement; challenged the EIB on lack of transparency by benchmarking it against other DFIs; and joined a joint civil society push to get UK development finance out of fossil fuels.
Holding DFIs accountable to those standards is vital and is enabled through accountability mechanisms.
- Recourse and partner organisations benchmark their policies against each other to help drive up best practice.
- We are active in several accountability mechanism reviews, including the joint mechanism of the French, German and Dutch DFIs (the Independent Complaints Mechanism, ICM) and the EBRD’s Independent Project Accountability Mechanism, as well as reviews by the World Bank, AIIB and ADB.
- Whenever possible, we bring our demands directly to the decision-makers at DFIs’ annual general meetings, where we also support partner organisations to share their perspectives from the frontlines.
Browse below for examples of Recourse’s work on various Development Finance Institutions.
