Independent accountability mechanisms: Promotion of standards, good governance and accountability

Since 1993, international accountability mechanisms (IAMs) have been established by international financial institutions (IFIs) including the World Bank and regional development banks to handle problem projects which adversely impact on people. The mandate of these mechanisms is primarily to address the concerns of affected peoples, improve the quality of projects, and enhance good governance and accountability. Project case studies will be analysed to determine if there has been promotion of standards, good governance, and accountability. The outcome and impact of the decisions taken by the institutions will also be considered on whether these IAMs or IFIs play a purposeful role in ensuring that institutional development effectiveness is achieved. There is also discussion of the potential role of IAMs in the elaboration and promotion of good governance standards through the progressive interpretation of emerging requirements of environmental and social protection and governance incorporated into MDB safeguard policies. The chapter suggests measures that can be taken by these IFIs to better address promotion of standards, good governance, and accountability.