IMF staff are discussing whether to release for external consultation a draft staff Guidance Note on its Poverty Reduction and Growth Facility. The note covers programme ownership; collaboration with the World Bank; social impact analysis; use of aid resources; public resource management; pro-poor budgets and more selective use of conditionality. In recent discussions with NGOs the IMF has been keen to emphasise that it will streamline its conditionality on PRGF loans to focus on a few key macroeconomic criteria and on essential structural reforms important for macroeconomic stability.
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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