Makhtar Diop named as new head of World Bank’s private sector arm: Oxfam reaction

Responding to the World Bank’s announcement today that it has appointed Mr. Makhtar Diop as the new CEO of its private sector arm, the International Finance Corporation (IFC), Nadia Daar, Head of Oxfam International's Washington DC office, said:

“We congratulate Mr. Diop and trust he will keep his door wide open to civil society. We will be looking to his leadership in ensuring the IFC’s project selection is guided by development impact and avoids investments that undermine globally agreed climate change targets and basic human rights such as healthcare and education. The IFC has the opportunity and responsibility to be at the forefront of transparency and due diligence in private sector lending and to protect local communities negatively impacted by projects it supports.

“We look forward to engaging with Mr. Diop on the successful implementation of reforms approved by the IFC last year, including a freeze on investments in for-profit schools, greater transparency in financial intermediary lending and strengthening its accountability system.”