Susanna Moorehead, former DFID head in India, has been appointed UK executive director (ED) to the World Bank; Alex Gibbs will remain ED to the Fund (formerly the ED covered both the Bank and Fund). Labour MP and member of the International Development Committee (IDC) Hugh Bayley has been elected chair of the Parliamentary Network on the World Bank (PNoWB), succeeding US Congresswoman Betty McCollum, who resigned to devote more time to upcoming US elections. More hands on deck are welcome considering DFID’s massive increase in support to the Bank (see Update 59) and weak oversight. The latest example of the latter came in DFID’s response to the critical IDC report on DFID and the World Bank which was described by the Bretton Woods Project as a “sheepish defence”.
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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