The Bank has recently begun to recognise evidence of links between peoples’ empowerment, growth and improved project performance. However, it recognises that “there remain many questions about what empowerment means, how it applies to the Bank’s work, and what actions should be undertaken”. It has published an Empowerment and Poverty Reduction Sourcebook to start to define its approach in more detail. This sourcebook will also inform the World Bank’s social development strategy which is now under production.
In the news
In December 2013, the German Development Institute, Friedrich-Ebert-Stiftung and Bretton Woods Project, in collaboration with the G-24, hosted a high-level workshop in Berlin to foster an open exchange on the profound changes in the global economy and the implications for global economic governance and its constituent institutions and members.
Last year BRICS' leaders agreed to launch a BRICS development bank. Whether this is considered positive depends in part what questions are being asked. Sameer Dossani of ActionAid International highlights the flaws in the World Bank and IMF, analyses whether a BRICS Bank could be different from these institutions and proposes what it should do and what it should look like.
The Bretton Woods Project is an ActionAid hosted project (UK registered charity no. 274467).