Much has been said about the potential of the World Bank's Inspection Panel to contribute to the normative development of international law. Yet, empirical evidence to contest or affirm this potential has been scarce. This article situates the Panel as a body that operates within a ‘system of quasi-judicial oversight’, and expounds the Panel's development of normative standards in three areas: the compliance review process, international human rights and public participation in decision-making. The article concludes by restating the Panel's normative potential in the light of its institutional realities as a body functioning in a ‘quasi-judicial oversight system’.