The IFC is considering a US$20 million funding proposal for a polyvinyl chloride (PVC) plant in an industrial estate in Cuddalore, Tamil Nadu. Corporate Watch charges that “the process has been marred by irregularities, behind-the-scenes dealings and a lack of transparency. Local communities already suffer health problems and PVC is a known carcinogen”. Villagers have succeeded in getting the loan decision delayed but the IFC says it still wants to fund the project as PVC pipes are a priority for developing India’s water infrastructure.
After 4 years of on-off negotiation and public opposition, the government of Egypt has signed a loan deal with the IMF whose impacts civil society fears will encroach upon human rights, social protection and social provision, like health and education, upon which the poorest depend.
Investments by the World Bank-hosted Global Financing Facility (GFF) do not reflect the family planning priorities identified by developing countries and local communities. The GFF also continues to suffer from a lack of transparency and meaningful civil society participation, raising doubts about the new mechanism’s effectiveness.
Donate to the Bretton Woods Project
The Bretton Woods Project is an ActionAid hosted project (UK registered charity no. 274467).