Today, 14 march, the Compliance Advisor Ombudsman (CAO), the independent accountability mechanism of the International Finance Corporation (IFC), published a report examining IFC's investment in Bridge International Academies (also known as New Globe Schools). The report focused particularly on allegations of child sexual abuse within this for-profit chain of schools in Kenya. 

In response, the IFC issued a official management response to the CAO's findings. Together with Accountability Counsel, Inclusive Development International, urgewald e.V., EACH Rights, Education International, and Gender Action, we condemn the IFC Board's approval of the action plan crafted in response to the CAO investigation. We believe this plan falls significantly short in providing a meaningful remedy to the survivors of abuse. 

Our actions in this matter are aligned with our continuous effort to demand that International Financial Institutions (IFIs) and Development Finance Institutions (DFIs) adopt transparent, effective accountability mechanisms and enhance their policies on remedies. This includes obligations towards clients and any third-party entities they finance. Moreover, it reaffirms our call for IFIs and DFIs to adhere to human rights standards, to mitigate risks and prioritise the well-being of communities in their initiatives. 

We urge stakeholders and the broader community to join us in advocating for systemic changes within IFIs and DFIs to ensure that human rights are not only protected but actively upheld in all aspects of their operations and investments. 

 You can access the joint press-release here.