Source · Select Committees · International Development Committee
Recommendation 17
17
Paragraph: 94
BII's internal controls failed to prevent harmful investments and were slow to respond.
Conclusion
While the Abraaj example suggests that BII’s internal control flagged suspected fraudulent activity, in light of other reports we are forced to conclude that BII’s internal control failed to identify and prevent some investments that appear to have harmed society and the environment in low-income countries. In those cases, BII was slow to investigate and to act in response to alleged wrongdoing by investee companies.
Paragraph Reference:
94
Government Response
A response document is linked to this report, dated 7 December 2023. Response attribution to this conclusion has not been verified. Read the response document ↗