In October the Bank’s board approved a $45 million loan from the International Finance Corporation (IFC), for the controversial Allain Duhangan hydropower project in the Indian Himalayas. Local people and Indian NGOs had called for the project to be delayed until numerous grievances were resolved. There are fears that the dam will divert essential water resources from drinking and farming. Villagers filed a formal complaint with the IFC’s Compliance Advisor Ombudsman (CAO) in September. Two days prior to loan approval, the CAO decided that the villagers’ complaint warranted an independent assessment of the project. Opponents fear that now the loan is approved, the CAO’s recommendations will be ignored by project officials.
Report finds Development Finance Institutions (DFIs) are not doing enough to eliminate the risk of public money being complicit in tax avoidance schemes.
BWP publishes new booklet on gender-just macroeconomics, a guide to engaging the IMF and World Bank.
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