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.
New IMF staff discussion note links gender and economic equality, but will this research influence IMF policy?
New report reveals IMF policy in the MENA region has remained unchanged after the 2011 Arab uprising, despite its rhetoric for change towards inclusive growth.
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