Clare Short, UK Secretary of State for International Development, has called in parliament for the reform of the IMF‘s ESAF loans to make them pro-poor. Commenting on the HIPC debt Initiative discussions, she said that it was important that efforts to link HIPC to poverty reduction were complemented by reforms in ESAF programmes to ensure they too supported poverty reduction. UK NGOs are discussing how to take this forward.
Originally created to help the poor escape poverty and deprivation, the World Bank became the most important advocate for the commercialised microcredit model. Yet, critics argued it undermined the chances of sustainable and equitable development to create a poverty trap of historic proportions.
While the World Development Report (WDR) 2018 on education has some redeeming features, it is part of the Bank's longstanding very narrow view of education, and is silent on education financing.
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