The World Bank has revealed the details of its 2012 promise to publish contracts online, following on from its procurement review (see Update 81). Bank managing director Caroline Anstey, announced at the June G8 meeting that from July the Bank will “publish all contract awards of World Bank Group-executed contracts above $250,000” and will “mainstream ‘open contracting’ in our new procurement policy.” There has been no statement from the International Financial Corporation (IFC, the Bank’s private sector arm) about whether its investment contracts will be included. The initiative is based on initially voluntary open contracting principles, including disclosure of subcontracting arrangements. It was developed by the Open Contracting Partnership, which includes Colombian procurement agency Colombia Compra Eficiente, Oxfam America and the government of the Philippines, and will work towards a global open contracting data standard.
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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