The Baku-Tblisi-Ceyhan (BTC) pipeline has come under renewed scrutiny just over one year after receiving an IFC loan in November 2003, worth $300 million. UK Parliamentarians from the trade and industry committee cross-examined officials of the British export credit agency on issues of environmental and technical safety of the BTC pipeline. Throughout 2004 a number of press reports have exposed concerns raised by whistleblowers of major technical failings and cutting corners on costs. Campaigners had warned the IFC before its decision that the project violated its own mandatory standards on 173 counts.
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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