Promoting Integrity in Development Finance: Perspectives from IFC and Private Practice

The International Finance Corporation in partnership with Hogan Lovells US LLP hosted a hybrid panel discussion on integrity issues in development finance, moderated by partner Shelita Stewart.

Multilateral lenders like IFC work in tandem with borrowers, sponsors, and other private-sector actors to reduce poverty and foster development in some of the most high-risk environments on the planet. While integrity due diligence can seem like a small and discrete aspect of a deal’s lifecycle, integrity risks take many forms and often arise when the parties least expect them. Properly assessing, allocating, and mitigating integrity risks is vital to ensure that an investment – whether a loan, guarantee, or equity deal – succeeds in achieving its development goals.

Executives, attorneys, development professionals, and academics attended to learn about the various ways that different stakeholders (lenders, shareholders, borrowers, sponsors, and their attorneys) can promote integrity in development finance through aspects like the investment structure, due diligence process, contractual provisions, and supervision measures. The panel also highlighted the role of in-house and external counsel in balancing the expectations and priorities of all parties.

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