The decisions, policies and projects promoted by international financial institutions (IFIs) have significant and often far-reaching impacts on human rights. While the impacts of these institutions can be positive – for example, contributing to poverty reduction – too often the impact is negative, with poor and marginalised individuals and communities suffering the most negative impacts. This is because these institutions frequently invest in industries, such as energy and resource extraction and projects, such as large-scale infrastructure development, associated with environmental damage and human rights abuses, like forced evictions. Also the projects that they support are frequently carried out in countries that may face significant challenges in ensuring the effective protection of human rights.
The organizations submitting this joint statement urge the United Nations Human Rights Council to increase its focus on the human rights impact of IFIs, including multilateral development banks, such as the World Bank.