IFC investments in a TV guide, hotels and online shopping highlight projects with weak development outcomes
New concerns have been raised on the World Bank’s involvement in the Simandou mine in Guinea, including on the use of biodiversity offsets, while civil society has repeated unaddressed concerns on the Mongolia Oyu Tolgoi mine. Further concerns have been raised on mines in Dominican Republic, Peru and South Africa.
Despite its increasingly strong rhetoric on tackling climate change the World Bank continues to fund contentious coal projects in India and Indonesia, including rejecting the findings of its accountability mechanism.
World Bank launches a new approach to fragile states, accompanied by resources, including IFC investment but it remains unclear what role it will play in implementing the reforms.
Amidst new complaints on the failure of the investments of the IFC’s financial sector clients to meet the IFC performance standards, including a controversial dam in Honduras, civil society organisations have rejected the IFC’s proposed action plan as unacceptable.
A decision paper relating to IMF transparency policy was published in July but has not satisfied critics, particularly civil society groups.
In a new blog, posted on TripleCrisis the Bretton Woods Project outlines why the Green Climate Fund, rather than the Climate Investment Funds should be the main channel to distribute climate finance.
This letter was written to respond to a World Bank 18 April reply to a March civil society letter about an audit of the International Finance Corporation’s lending to the financial sector. The over 50 groups signed on to the letter believe the IFC’s response is inadequate and urge the Bank's president to insist the IFC do more to address the audit’s findings.