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Strong safeguards are needed when investing public money via private financial intermediaries

Martin Atkin

25 Jan 2018 14:38:46

You wouldn’t just hand your money over to someone else to invest without asking them what they were going to do with it, would you? If you were a public body, at the very least you’d want to make sure it wasn’t used in a way that damaged the environment or undermined human rights. Increasingly, however, there are concerns that development finance institutions (DFIs - government-backed institutions that invest in private sector projects in developing countries) - are lending money to private sector financial intermediaries (FIs) to invest in infrastructure projects in developing countries - without ensuring that proper environmental and social safeguards are in place. These intermediaries - private commercial banks, private equity funds and infrastructure funds - are essentially go-betweens ...
Eurodad has produced two briefings, one on Development Finance Institutions (DFIs) and public country by country reporting (CBCR), the other on DFIs and public disclosure of beneficial ownership (BO). The briefings put forward general recommendations ...

blog
Financing for whose development? DFIs and their support for companies that use tax havens

Mathieu Vervynckt

04 Nov 2014 11:58:53

This blog first appeared on From Poverty to Power. The Third UN Conference on Financing for Development (FfD), set to take place in Addis Ababa next year, will be a crucial opportunity to discuss two of the hottest topics in development finance today: the use of scarce public resources to leverage the private sector, and the fight against international tax avoidance and evasion. Both topics come together in Eurodad’s new report, Going Offshore, though probably not in the way you might expect.  Previous Eurodad research has shown that despite the lack of public information about how they work and their impact on development, Development Finance Institutions (DFIs) – government-controlled institutions that support private sector projects in developing countries – have come to ...

press
Billions of euros intended for projects in developing countries routed through the world's most secretive financial centres

New Eurodad report investigates private sector support by European Development Finance Institutions  Tuesday November 4th  Billions of euros intended for projects in developing countries are being routed through tax havens and are shrouded in secrecy, according to a new report released today (Tuesday November 4th). The report, Going Offshore, examines support given to private sector companies by Europe’s biggest Development Finance Institutions (DFIs) and the International Finance ...

blog
Shining a light on the shadowy institutions that dominate the development landscape

Maria Romero

18 Jul 2014 16:16:17

Rich country governments and multilateral institutions have provided grants and loans to companies working in developing countries for decades. However, the scale of this support has increased enormously, and the institutions providing it – development finance institutions (DFIs) – are coming to dominate the development landscape now that private finance has replaced aid at the centre of global and national development initiatives. These institutions are not new, but we know very little about how they work and – vitally - what their impacts on the ground are. Despite the questions that hang over their operations and mandates, by 2015 the money going into the private sector from DFIs is expected to exceed $100 billion, which is equivalent to almost two thirds of Official Development Assistance ...