World Bank, Asian Development Bank under fire for mutual reliance plan

The World Bank and Asian Development Bank are poised to begin relying on each other’s due diligence and for some co-financed projects, with NGOs claiming the move will lead to lower standards and less accountability.

The Full Mutual Reliance Framework, or FMRF, will be up for discussion by the boards of both lenders next Tuesday. However, the full text of the framework has not been released.

Instead, consultations have been based on a nine-page PowerPoint presentation.

Read the full article featuring Accountability Counsel Policy Associate Radhika Goyal here.