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.”
Originally created to help the poor escape poverty and deprivation, the World Bank became the most important advocate for the commercialised microcredit model. Yet, critics argued it undermined the chances of sustainable and equitable development to create a poverty trap of historic proportions.
While the World Development Report (WDR) 2018 on education has some redeeming features, it is part of the Bank's longstanding very narrow view of education, and is silent on education financing.
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