The Baku Tbilisi Ceyhan pipeline came under fire last month. A report by independent financial analysts found that returns would be “marginal” if everything goes according to plan. “But with considerable political risks involved,” said author Mark Mansley, “it could become a real headache for BP. Banks would be well advised to be cautious in their decisions on this”. Support from public institutions such as the International Finance Corporation has been delayed until September 2003. Meanwhile activists have filed complaints in 5 countries alleging that the project breaches the OECD’s Guidelines for Multinational Enterprises.
Stephen Kidd critiques Bretton Woods Institutions' approach to targeted social protection systems, arguing the poor lose out the most.
Donate to the Bretton Woods Project
The Bretton Woods Project is an ActionAid hosted project (UK registered charity no. 274467).