The World Bank’s private sector arm, the International Finance Corporation (IFC), in June approved a $45 million loan to help Glamis Gold Ltd. develop a gold mine in western Guatemala. The mine is currently under construction and is expected to start production in 2006. The IFC said it will also help plan and implement the environmental and social programmes for the mine by working with the company, non-governmental groups and community leaders. Campaigners say that Glamis Gold has a “dismal record” on community rights.
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.
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