How the microfinance industry can paper over debt-linked suicides in Cambodia.
Listen to the audio "World Bank Ignores Its Own Internal Watchdog" here.
For the first time in history, the World Bank has completely rejected the findings of its internal watchdog, prompting the head of the monitor to resign. The watchdog found that the bank had violated its own policies and failed to do proper due diligence before investing $400 million into Cambodian microfinance firms.
Those firms harmed impoverished borrowers, pushing them to sell land and make their children work to repay loans, the watchdog determined. Leila Goldstein reports from Ratanakiri, Cambodia.
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