The World Bank’s board of directors recently approved an investment guarantee for the $590 million West Africa gas pipeline in November, despite strong civil society resistance. The pipeline will transport natural gas from the Western Niger Delta area of Nigeria, to Togo, Benin and Ghana. After funding the initial feasibility studies for the pipeline in 1992, the Bank has now provided a $125 million investment guarantee to encourage private investors to come up with the remaining $465 million. Friends of the Earth Nigeria charge that the pipeline “is being implemented in total disregard of environmental and livelihood concerns of Nigerian communities.”
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Bretton Woods Project briefing on MDBs' fossil fuel investments and exposure to the carbon bubble
This factsheet explains how the International Finance Corporation (IFC) operates, how development impact is measured, and the latest trends in investments by sector, region and instrument.
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