AbstractDespite repeated calls for locally anchored Integrated Conservation and Development Projects (ICDPs), the decision-making authority of targeted Indigenous Peoples and Local Communities (IPLCs) remains limited. This paper is grounded on an Institutional Logics perspective to examine the role of major development agencies—the World Bank (WB), the United States Agency for International Development (USAID), the Inter-American Development Bank (IDB), and the German Development Bank (KfW)—in perpetuating this challenge. Interviews with project managers in the Latin American and Caribbean (LAC) region reveal complex internal hierarchies, risk-focus, high performance pressure, a “better than nothing” rationale, and a hands-off approach to community participation. We argue that these tendencies are rooted in organisational structure and individual mentalities that constitute a project management logic, which in turn raises concerns about the ability and willingness of development agencies to foster local project ownership of ICDPs. The paper calls for the international donor community to reflect on and transform such management logic, and to allocate more substantial decision-making power and resources to local representatives.