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.
In the news
New Bretton Woods Project report reveals World Bank Group channelling crucial development resources to banks instead of directly investing in pro-poor projects.
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.
The Bretton Woods Project is an ActionAid hosted project (UK registered charity no. 274467).