MANILA, Nov 13 (IPS) – Development banks have repeatedly looked the other way and been complicit in the human rights violations of corporations and governments they work with. They support activities where armed forces push forward large infrastructure and extractives projects on traditional lands without the participation and consent of Indigenous Peoples.
This week, 450 public development banks from around the world met for the Finance in Common Summit at the Paris Peace Forum. They gathered to discuss how they can direct their combined investments of over USD 2 trillion – 10% of total investments in the world – “to support the transformation or the global economy” and “build new forms of prosperity that take care of people and the planet.”
