The history of development assistance gives a lot of examples where the donor, of self interest or unintentionally, has embarked on projects that have been unproductive or counter productive for the receiving country, which has had to carry the consequences and cost for the failures. The conditionality has been a key word in the development debate the last few years. Now, the policy of the Bank and other donors might gradually be adjusted, hopefully to benefit the developing countries in the future. But damages to the weak and vulnerable economies in Africa will remain. If the mistakes are the wrong diagnosis, the wrong medicine or simply the wrong dose is less important.
Damages can probably have effects many years to come.
For brokers and financial advisors, there are rules and codes protecting their clients against unprofessional advice and transactions. In severe cases, considerable compensation can be imposed. A corresponding warrant or insurance should exist also in the development assistance world. We think it should be part and parcel of the proposed Partnership principle. Details about its mechanisms and where violations can be tried can be worked out later.