The independent audit of the Compliance Advisor Ombudsman (CAO) into the Multilateral Investment Guarantee Agency’s (MIGA) due diligence for the Dikulushi copper-silver mining project in Katanga (see Update 49, 47) was finally made public in February. The audit found that MIGA did not adequately consider the risks that the project poses to local communities, nor did it fully understand the implications for its client of implementing the Voluntary Principles on Security and Human Rights. Congolese and international organisations welcomed the overdue release of the report, urging that all companies receiving Bank support comply with international human rights standards.
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.
Donate to the Bretton Woods Project
The Bretton Woods Project is an ActionAid hosted project (UK registered charity no. 274467).