New Delhi, May 8 (IANS) Highlighting the adverse impact of fundings from Asian Development Bank and other international financial institutions (IFIs), social activist Medha Patkar on Monday said that these agencies are involved with ill-conceived projects which result in displacement of people.
"The masses have been at the receiving end of ill-conceived policies and projects and will further strengthen the struggles demanding transparency and accountability from these IFIs," Patkar said at an NGO Forum event here on Monday.
"The projects and policies of ADB and other IFIs displace people in the name of development and steal the livelihood of the people, pushing people to disparity and destitution," she added.
ADB is celebrating its 50th anniversary this year.
Explaining the rationale behind their protest, Shaktiman Ghosh, General Secretary of National Hawkers Federation, said: "We are against ADB and other IFIs because we have seen that their investments have caused job loss and forced eviction of millions of people, particularly the ones in the urban areas, where investments in the name of urban development, infrastructure and urban beautification have caused massive negative impacts on urban poor."