Announcement from CAO Director General Janine Ferretti

Yesterday, the IFC Board of Executive Directors issued a statement regarding approval of IFC’s Management Report in response to an investigation by the Office of the Compliance Advisor Ombudsman (CAO) related to IFC’s investments in six Cambodian financial institutions providing microfinance services. In approving the “Special Management Action Plan” included in that Report, the Board expressed its view that there has been no policy noncompliance under IFC’s Policy on Environmental and Social Sustainability.

In the wake of the Board’s decision, and after careful reflection, I have decided to step down as CAO Director General effective August 1, 2026.

It has been a profound honor to serve CAO and to work alongside colleagues whose professionalism, care, and rigor define this institution. I remain deeply proud of CAO’s mission and our unwavering commitment to facilitate access to remedy for communities affected by the environmental and social impacts of IFC/MIGA projects.

- Janine Ferretti