Abstract
Independent accountability mechanisms (IAMs) have been set up since 1993 by international financial institutions (IFIs) including the World Bank, regional development banks, other multilaterals, and national agencies to handle problem projects which adversely impact on people as well as to enhance accountability and transparency of operations. This chapter discusses on the increasing growth of IAMs by various organisations, including most recently in 2014 by the United Nations Development Programme and in 2015 by the Caribbean Development Bank. The triggers relating to the creation of these accountability mechanisms are considered, with a discussion of the directions, cooperation and engagement of these accountability mechanisms. Two specific issues are discussed. One is determining the number of claims filed or registered with these mechanisms and the difficulties in some cases in extrapolating data on the claims filed. The other is the challenges on cooperation and collaboration faced by IAMs. The chapter concludes with a discussion on the lessons ahead for IAMs to enhance their mechanisms in further pursuit of accountability.
Original language | English |
---|---|
Title of host publication | The Practice of Independent Accountability Mechanisms (IAMs) |
Subtitle of host publication | Towards Good Governance in Development Finance |
Publisher | Brill |
Pages | 262-209 |
Number of pages | 54 |
ISBN (Electronic) | 9789004337787 |
ISBN (Print) | 9789004337770 |
DOIs | |
Publication status | Published - 4 Nov 2019 |