Financial Institutions and the Rights of the Child: An Overview of Policies and Accountability Mechanisms

International financial institutions (IFIS) have a substantial – and sometimes adverse – impact on the fundamental human rights of persons affected directly or indirectly by their activities. In February of 2013, the Committee on the Rights of the Child adopted General Comment No. 16, which highlights states’ and international organizations’ obligations under the Convention on the Rights of the Child.

This report reviews the policies and accountability mechanisms of several financial and development institutions and ascertains the extent to which they incorporate children’s rights as defined in the UN Convention on the Rights of the Child and General Comment No. 16.

The results of this report find that policies and accountability procedures of financial institutions at global, regional and national levels vary widely in their approach to incorporating international human rights standards in their work. Direct human rights obligations of international financial institutions, such as the World Bank Group, are not as well defined as those of national financial institutions, such as the China Development Bank.

Further conclusions are made as well as recommendations to both specific IFIS and in general as to how incorporation of human rights and accountability measures can be improved.