Cape Town, South Africa–As public development banks gather for the Finance in Common Summit (FiCS) in Cape Town, South Africa, more than 250 civil society and community activists from across the world are demanding a shift to a community-led, equitable, and human rights-based development approach, that prioritise people and planet over profit, and a reform of the global financial architecture.
Since its first edition in 2020, civil society has been playing a critical role at FiCS in ensuring public development banks – accounting for more than 10% of annual world investment – are accountable to the people they serve and in amplifying the voices – too often ignored – of communities in the Global South who are most directly affected by development projects.
Amidst rising inequality, debt crises, and the climate emergency, public development banks must move beyond rhetoric and commit to concrete, transformative actions. This is why over 250 civil society groups have joined forces to bring their demands at FICS, calling on development banks to champion a new era of development finance, placing human rights, community leadership, and environmental sustainability at the core of all financing decisions.
More than 60 civil society organizations and community activists will also join the Summit in person to share their first-hand testimonies on the actual impact of development projects. From renewables in Kenya to green hydrogen projects in Chile, too often, projects presented as sustainable are displacing local communities, polluting the environment, and failing to ensure that the benefits trickle down to those most in need.
The Lesotho Highlands Water Project, for instance, provides water to South Africa in exchange for royalties and the generation of hydropower for Lesotho, but it has led to devastating socio-economic and environmental impacts. Hundreds of families have been involuntarily resettled, and more than 30,000 people lost their cropland and grazing land, with a particular impact on women.
Civil society and community representatives participating at the Summit will also present viable and alternative solutions, such as small-scale and renewable energy solutions led by Indigenous communities.
These stories show that it is key for development banks to use FiCS to step out from their echo chamber, listen to those bearing the brunt of their investments, and strengthen the dialogue with civil society.
“With a considerable percentage of global investment flowing through them each year, public development banks hold immense responsibility—not only to fund infrastructure and development but to do so in a way that is just, inclusive, and sustainable. Development that does not listen to the voices of the people it affects is not true development; it deepens inequalities, harms ecosystems, and leaves communities behind. True development is not done for communities but with them.
From small farmers developing climate-resilient agriculture to local entrepreneurs pushing for inclusive growth, from Indigenous groups fighting to protect their lands to urban communities supporting sustainable infrastructure—these are the voices that must be heard. The path forward must be one of collaboration, transparency, and accountability, where financial power serves the public good. The greatest impact comes from partnering with those on the frontlines of climate change, poverty, and social transformation and making sure they have a seat at the table.”
Mavalow Christelle Kalhoule, Chair, Forus
“Over the next few days, the world’s public development banks (PDBs) will be patting themselves on the back for all the good they’re doing around the world. But all that glitters is not gold. Way too often these institutions are replicating a neocolonial and neoliberal approach, dividing the world between those to be sacrificed and those to benefit from the sacrifices. As over 50 civil society groups and community activists are attending this year’s Finance in Common, development banks should not miss the opportunity to listen to their voices.”
Ony Soa Ratsifandrihamanana, Africa Regional Coordinator, Coalition for Human Rights in Development
“When decisions are made without the input of local voices, finance becomes an instrument of exclusion, perpetuating inequality and undermining true progress. We demand a comprehensive overhaul of global financial structures that prioritizes community rights, ensuring that every development initiative contributes to inclusive, sustainable growth and leaves no one behind.
Public Development banks must do more than simply fund projects—they have a duty to empower communities by aligning investments with local needs and ensuring complete transparency. A shift to people-led finance will enable genuine economic transformation, lifting up every individual and fostering resilient, inclusive growth that benefits society as a whole.”
Ndeye Fatou Sy, Programs Manager,Lumière Synergie pour le Développement
“While MDBs acknowledge the importance of civil society engagement, their frameworks often fall short in implementation, resulting in limited access to information, tokenistic public participation, and a lack of accountability for reprisals against activists. There is a pressing need for MDBs to collaboratively develop a unified and proactive approach to safeguarding and expanding civic space. This would enhance their impact, promote human rights, and foster sustainable development by strengthening governance, improving democratic accountability, and mitigating operational risks such as corruption and inefficiencies.”
Manana Kochladze, Strategic Area Leader – Democratization and Human Rights, CEE Bankwatch Network
“Financing for the energy transition for communities should be preceded by community ownership of the proposed energy alternatives upon comprehensive evaluation of aspects of access, affordability, efficiency. Any form of financing by MDB’s should start with support to community-led planning initiatives that ascertain that decisions on energy alternatives centre the rights of affected persons and communities.”
Mwebe John, Africa Finance Campaigner, Recourse
“Multilateral development banks are investing more money than ever into renewable energy, but the scale and kind of projects matters if these investments are going to truly power people and protect the planet. Community-led projects are popping up everywhere – from rooftop solar in India, to micro hydropower in Indonesia, and rural mini grids in Rwanda and Tanzania. The MDBs have a duty to ensure that their investments respect people’s rights and minimise harms, especially for women, Indigenous Peoples and other vulnerable groups – so that no one is left behind in the energy transition.”
Federico Sibaja, IMF Campaign Manager, Recourse
“As we gather at the Finance in Common Summit, we remind Public Development Banks (PDBs) that front-line communities should not bear the cost of development. PDBs must create and use independent accountability mechanisms to hear directly from local communities and ensure that their land, livelihoods, and environment are protected.”
Robi Chacha Mosenda, Accountability Counsel
“The world is passing through the most critical and testing times of its history and once again the solutions are being imposed without the consent, participation and engagement of citizens at large and representative civil society in particular. This is the time to think, reflect and act out of the box and this opportunity of coming together at FICS, Cape Town should not be considered business as usual. We all know the current International Financial Architecture led by elites and corporations has failed already. The regional & global multilateral development banks and other IFIs have not ensured community-led development, climate adaptation and mitigation actions. The time has come to put an end to such colonial arrangements and promote a more democratic and representative structure of global and regional economic governance and delivery. Together we can make significant breakthroughs in overhauling the International Financial Architecture, role of MDBs to ensure sustainable development, best utilisation of climate finances and economic justice for all.”
Zia ur Rehman, Secretary General & Director, Asia Development Alliance
ENDS
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Bibbi@forus-international.org
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