A striking feature of public international financing of natural resource development projects in developing economies is the introduction of public accountability mechanisms to ensure that these projects comply with social and environmental principles and standards. For example, natural resource development projects funded through the World Bank group are subject to the Inspection Panel mechanism in relation to complaints about the negative social and environmental impacts of such projects. As the public international financing of such projects is increasingly giving way to private international finance, this paper will examine whether similar accountability mechanisms have been developed for this type of private international financing for such projects.
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