In October 2011, global coalition of civil society groups Seattle to Brussels Network held an international week of action against bilateral investment treaties. Their final declaration calls the World Bank-housed International Centre for the Settlement of Investment Disputes (ICSID) part of “an architecture of impunity for transnational corporations (TNCs) [which] undermines the sovereignty and constitutions of both developed and developing countries, democratic governance and peoples’ interests.” It calls for “the withdrawal of states from ICSID and other arbitration processes.” After five years of threats, Venezuela, which has almost 20 suits pending at ICSID, formally withdrew from the institution in January, claiming membership threatened “national sovereignty”.
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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