Civil Society at the Finance in Common Summit Calls for Community-led, Equitable, and Human Rights-based Development

As public development banks gather for the Finance in Common Summit (FiCS) in Cape Town, South Africa, civil society and community activists from across the world are demanding a shift to a community-led, equitable, and human rights-based development approach, that prioritise people and planet over profit, and a reform of the global financial architecture.

The Lesotho Highlands Water Project, for instance, provides water to South Africa in exchange for royalties and generation of hydropower for Lesotho, but has led to devastating socio-economic and environmental impacts. Hundreds of families have been involuntarily resettled and more than 30,000 people lost their cropland and grazing land, with a particular impact on women.

“As we gather at the Finance in Common Summit, we remind public development banks that front-line communities should not bear the cost of development. Public development banks must create and use independent accountability mechanisms to hear directly from local communities and ensure that their land, livelihoods, and environment are protected,” says Robi Chacha Mosenda, Senior Associate at Accountability Counsel.

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