Iowa law professor: Improve World Bank accountability

[cyberswede]

Law professor offers changes to improve World Bank accountability

A University of Iowa international development expert is proposing a new method of holding the World Bank accountable when its development projects damage communities in developing countries. The proposal, by law professor Enrique Carrasco, would create a mediation and arbitration process that replaces the current Inspection Panel, which has come under considerable criticism since its inception.

Carrasco said that people harmed by a project financed and advised by the World Bank should, under certain circumstances, be able to bring an arbitration claim against the bank for damages if the bank did not follow its own policies and procedures.

Holding the World Bank accountable has been an ongoing issue for the giant multilateral development bank. Formed after World War II, the World Bank helps developing countries build their economies by providing financing and advice to, among other things, help them construct the kinds of public infrastructure they couldn't afford to build on their own. Over the years the bank has helped countries build massive projects like dams, highways, and power plants.

The bank has often been criticized, though, for financing projects that harmed people or communities in the country where the project was being built. This damage was often the result of the bank violating its own policies and procedures, but Carrasco said the people who suffered had no way to hold the bank accountable.

Full news release: http://news-releases.uiowa.edu/2008/july/071008worldbank.html.

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I thought this looks promising...somebody needs to have oversight over the World Bank...