IFI governance

Background

Financing development through financial intermediaries: Exploring best practices in transparency

19 April 2018 | Minutes

Panellists at the CSPF event on Financing Development through Financial Intermediaries.

Panellists:

  • Otaviano Canuto, Executive Director, World Bank Group (chair)
  • Osvaldo L. Gratacos, Vice President, Office of the Compliance Advisor Ombudsman (CAO), World Bank Group
  • Robin Sandenburgh, Acting Director, Environmental, Social and Governance Group, IFC
  • Frazer Lanier, Vice President, Environmental and Social Risk Management, CitiBank
  • Nadia Daar: Head of Washington Office, Oxfam International

Session summary: The financial intermediary sector (FI) sector is undergoing important changes including the adoption of greater transparency standards. Many FIs have agreed to standards like the Equator Principles and Global Reporting Initiative, and regulators from the Netherlands to China have mandated enhanced FI disclosure practices. This session featured sector leaders from the banking community, the International Finance Corporation (IFC), and civil society. They discussed their experiences in transparency, its relationship with environmental and social outcomes and how to promote further advances at the World Bank Group and accross the financial sector.

Osvaldo Gratacos, CAO: Many banks are moving toward greater disclosure as is the case with Equator Principle (EP) banks. Green Bond standards also include a high level of disclosure.

At times CAO [Compliance Advsior Ombudsman) does have a chilling effect on clients.Robin Sandenburgh, Acting Director, Environmental, Social and Governance Group, IFC

While IFC discloses private equity investments, it does not in case of commercial banks. EBRD also discloses ESIA for high risk projects.

Disclosure is also moving in China. IFC sustainability banking network is also undertaking discussion.

Today IFC works with 100 financial institutions, hence need for greater transparency.

Otaviano Canuto, WBG ED:

From Board’s perspective, transparency and accountability are of essence for good governance.

In Brazil there have been efforts to develop environmental and social risk management, such as the green protocol, which is voluntary. In certain instances the Brazilian Central Bank compels banks to assess and measure ES impact. A Brazilian Central Bank note demands that FIs address stakeholder concerns.

The Cetral Bank also requires disclosure of physical and social risk and this is used to assess financial health.

Robin Sandenburgh, IFC: Transparency is very high on the IFC agenda. The IFC applies a different approach to FI lending from direct project lending. IT delegates investment decisions to FI clients as is the case with the environmental and social (ES) assessment. IFC then supports work in-country.

FIs allows IFC to dramatically increase reach – which requires delegation.

IFC focuses on ensuring FI clients have ES and governance (ESG) management system – initially perhaps 70 per cent have nothing – IFC supports them to develop them and provides continued support in the system’s development.

In high-risk projects FIs develop ES management system, which is evaluated.

FIs must develop mechanisms for stakeholder grievance mechanism. – Clients are responsible, but IFC supports the process. This continues to be ‘best practice’.

Where there is no progress the IFC may, as a final step, exit.

IFC acknowledges civil society organisations (CSOs) concerns about IFC untargeted loans, which are not ‘traceable’. IFC has 700 clients and had few ESG staff. It also understands the concerns about transparency mechanism of clients.

  1. untargeted loans have been reduced dramatically – less than 20 per cent are non untargeted loans. Funds increasingly ‘ear-marked’.
  2. Reduced high-risk investments – 5 high-risk investments this year (ending July).

IFC has also pressed on more clear definition of women-owned business and micro-lending. It has also dedicated more resources for ESG work. The toughest part remains transparency. IFC continues to work closely with Equator Principle Banks and continues to push clients for voluntary disclosure.

IFC also continues to lead on the Sustainable Banking Network, which has developed a measurement framework for Banks (34 countries). Banks use the framework to measure themselves against peers. IFC has also been developing a disclosure and transparency toolkit, which will be launched in January at the London Stock Exchange.

Frazier Lanier, CitiBank:

Citi uses the IFC Performance Standards (PS) and their use may result in lending conditions on clients.

As regards transparency at Citi, there is a strong internal focus on client confidentiality. Citi must ask permission from clients for disclosure. However, Citi is a founding member of EP and releases name of projects – with 99 per cent consent. But these relate to loans within the EP framework of which, out of thousands of Citi transactions, 400 triggered ESF policies with 5 projects disclosed.

Other realm of disclosure exist – eg. Bond issuance. Some lending facilities.

Disclosure can assist Citi’s sustainability reporting. Many clients have little to no knowledge of ESG management issues/ processes.

Citi and other larger banks have an incentive to push for upward harmonisation of standards as it results in ‘more even playing field’.

Citi is currently working in over 100 countries.

Nadia Daar, Oxfam:

CSOs have been working for a number of years to advocate for change in IFC’s disclosure policies. Pleased with some progress made. However more must be done.

Oxfam and others have published a number of reports outlining the negative consequences of lack of transparency in financial intermediary (FI) lending.

According to CSO calculations the IFC’s FI portfolio is much larger than the 30 per cent mentioned earlier. Our calculations place the figure at up to 60 per cent untargeted loans.

Oxfam will soon launch a publication on development finance institutions’ (DFI) disclosure. The study finds that DFIs lack coherence in this area.

The Equator Principles Financial Institutions (EPFIs) are ready for disclosure – 62 per cent of them do get information voluntarily.

Much of the information CSOs and communities demand is available in the Thompson and Reuters databases. However these are very expensive. Clients already provide consent for release of information in these commercial databases. We maintain therefore that the general tendency is clearly on the side of increased disclosure. CSOs want commitment from IFC on disclosure of high and significant risk project.

Q&A:

BIC Europe: BIC Europe has released a new report on coal financing in Philippines. How does IFC plan to track its coal investments, particularly in light of lack of transparency?

CAO has recently received its first climate complaint from 19 affected communities in Philippines. 8 were found not eligible – due to nature of corporate bond. CSOs disagree and think IFC is materially exposed. Would urge a second look – Bond issuances could amount to $28 trillion globally.

IFC answer: IFC made commitment within its Sector Economics for Financial Institutions toward better tracking. It has instituted a tracking system. Committed to report to Board periodically. It has conducted an assessment exercise and found that few very clients have meaningful exposure to coal – 5 per cent with exposure.

IFC remains committed to decrease untargeted lending. Also trying to increase business climate. It is trying to attack the problem from both ends.

The IFC accepts that there is some appetite for disclosure, but thinks it remains quite limited, as reflected in the fact that only 60 per cent of EPFI disclose. Privacy law issues remain. It is also expensive.

Oxfam: Oxfam research indicates that many Banks say that most approach disclosure of project name ‘matter-of-factly’.

CAO: Regarding the climate complaint and the bond issue: The complaint technically relates to one client. CAO did quite a bit of research and reached out to client. The issue centres on assessment of exposure from a bond arranger vs. holder perspective. CAO has accepted eligibility of loan and bonds held. Lack of information proved a challenge. Process took much longer than 15 day response period.

Assessment process has begun. Must visit 11 communities. CAO remains community-driven. Are drafting internal report.

IFC: IFC is puzzled by the disconnect between ‘ease of voluntary disclosure’ outlined by Oxfam vs. IFC’s experience. Could this be perhaps due to nature of Oxfam sample?

IFC staff: challenge on disclosure: In many cases IFC cannot disclose as laws will not allow it. There are also issues of confidentiality and competition. Perhaps a matter of jurisdiction. Each market is different.

Citi: Agrees that disclosure remains challenging. Citi has thousands of projects and has only disclosed information on 5. The 99 per cent disclosure figure mentioned earlier relates only to Banks that trigger EP volunteer information.

In some jurisdictions the legal constraints are indeed a challenge.

EP is exemplary but not representative.

Oxfam: EPFI clients also agreed to volunteer information and they also tend to provide information to databases.

Oxfam prefers not to refer to ‘best practices’. No best practice. The Overseas Private Investment Corporation (OPIC) does disclose bank clients.

IFC: Driving for better global performance globally.

Recently met with European DFIs – many don’t disclose direct projects. IFC is quite far ahead in that regard.

Disclosure is complex – on climate there is a greater focus on disclosure. Not a topic of conversation for smaller loans. Focus remains rather on policies rather than disclosure of sub-projects.

Working with the Sustainable Banking Network (SBN) on regulations – to make regulators aware of structural importance of disclosure.

Bretton Woods Project: In past discussions with IFC, we heard legal constraints were not the principal barrier to disclosure. The problem was rather an issue of leverage. Requested educated guess of percentage of jurisdictions where the law is the principal constraint to disclosure.

Citi: Very concerned about consultation and Free, Prior and Informed Consent (FPIC). However much of the lending is general purpose lending. That said, will look for high-risk, displacement, etc.

IFC: Accepts that information is getting out there. Technology will contribute to distribution.

Accepts the importance of CAO. At times CAO does have a chilling effect on clients. Some clients have exited and are therefore ‘out of reach’ of influence.

Nadia Daar, Oxfam: Stressed that CSOs are not asking for disclosure of all or even majority of investments, only a small portion of high and substantial risk projects.

CAO: Acknowledges progress and IFC increased involvement. Hope that CAO does not have a ‘chilling impact’. Need to explain the purpose of CAO.

More background on this issue

IFI governance

Background

20 April 2018 | Minutes

A lost decade for human rights? Assessing austerity and its alternatives 10 years on from the financial crisis

Notes from the 20 April Civil Society Policy Forum session on assessing austerity and its alternatives 10 years after the global financial crisis at the World Bank and IMF's Spring Meetings.

IFI governance

Background

19 April 2018 | Minutes

Financing development through financial intermediaries: Exploring best practices in transparency

Notes from the 19 April Civil Society Policy Forum session on financing development through financial intermediaries at the World Bank and IMF Spring Meetings.

IFI governance

Background

19 April 2018 | Minutes

Financial crisis 10 years on. Has the response to 2008 laid the foundations for the next?

Notes from the 19 April Civil Society Policy Forum session on the response to the 2008 financial crisis at the World Bank and IMF's Spring Meetings.

IFI governance

Background

19 April 2018 | Minutes

The promotion of Public-Private Partnerships – exporting a failed model?

Notes from the 19 April Civil Society Policy Forum session on the World Bank's promotion of public-private partnerships at the World Bank and IMF's Spring Meetings.

IFI governance

Background

18 April 2018 | Minutes

Big Shift: How can the Development Banks align with the Paris Agreement?

Notes from the 18 April Civil Society Policy Forum session on aligning multilateral development banks with the Paris Agreement at the World Bank and IMF's Spring Meetings.

IFI governance

Background

18 April 2018 | Minutes

Can the World Bank improve energy access for the poor? The importance of transparency in achieving the SDGs

Notes from the 18 April Civil Society Policy Forum session on the World Bank's approach to financing energy access at the Work Bank and IMF's Spring Meetings.

IFI governance

Background

13 October 2017 | Minutes

Great expectations: Is the IMF turning words into action on inequality?

Notes from the 2017 World Bank and IMF Annual Meetings session on the IMF's approach to inequality, 13 October.

IFI governance

Background

12 October 2017 | Minutes

Diagnosing governance challenges in the extractive sector: The Resource Governance Index and beyond

Notes from the 2017 World Bank and IMF Annual Meetings Civil Society Policy Forum session on the challenges of effective governance of the oil, gas and mining sectors in resource-rich countries.

IFI governance

Background

11 October 2017 | Minutes

Civil Society Townhall 2017

Notes and video from the 2017 World Bank and IMF Annual Meetings session of the Civil Society Town Hall, 11 October.

IFI governance

Background

11 October 2017 | Minutes

The challenges of financing infrastructure in developing countries through PPPs: A focus on contracts and laws

Notes from the 2017 World Bank and IMF Annual Meetings session on financing infrastruure in Latin America through PPPs. This session aims to discuss the main challenges pose by the widespread promotion of PPPs and its impacts in particular Latin American cases.

IFI governance

Background

11 October 2017 | Minutes

Funding energy access for the poor: Can the Bank meet the Challenge?

Notes from the 2017 World Bank and IMF Annual Meeting Civil Society Policy Forum session on energy access, 11 October.

IFI governance

Background

10 October 2017 | Minutes

Measuring impact – an overview of IFC’s new approach to measuring development impact

Notes on the IFC's new approach to measuring development impact at the Civil Society Policy Forum 2017, 10 October.

IFI governance

Background

10 November 2016 | Minutes

UK civil society meeting with DFID: Annual meetings and IDA

Notes of a UK CSO meeting with DFID on the annual meetings and the IDA process 23 September 2016.

IFI governance

Background

7 October 2016 | Minutes

Recurring debt crises in sub-Saharan Africa and the rise of bond issuance

Notes from a side event at the IMF/World Bank 2016 annual meetings launching a new report on bonds issuance in Nigeria, Zambia and Ghana, followed by a panel discussion on government bonds as a debt issue.

IFI governance

Background

7 October 2016 | Minutes

The new World Bank environmental and social framework: Opportunities and challenges for implementation

Notes from a side event on implementation of the new World Bank environmental and social framework, which took place during the World Bank-IMF 2016 annual meetings.

IFI governance

Background

6 October 2016 | Minutes

Evaluating citizen engagement in World Bank operations

Notes from a side event on citizen engagement in World Bank operations, which took place during the World Bank-IMF 2016 annual meetings.

IFI governance

Background

6 October 2016 | Minutes

The role of IFIs in assessing the impact of tax incentives and tax competition on inequality

Notes from a side event at the IMF/World Bank 2016 annual meetings exploring the link between tax incentives, reduced revenue mobilization and inequality, as well as addressing tax capacity building efforts.

IFI governance

Background

6 October 2016 | Minutes

Stopping vulture funds through national anti-vulture laws

Notes from a side event at the IMF/World Bank 2016 annual meetings exploring the issue of vulture funds from various angles, as well as possible solutions.

IFI governance

Background

6 October 2016 | Minutes

Equity, inclusion and education: Examining evidence on low-fee private schools

Notes from a side event on privatisation of education and low-fee private schools, which took place during the World Bank-IMF 2016 annual meetings.

IFI governance

Background

17 April 2016 | Minutes

IMF Fiscal Forum - International Taxation: Opportunities & Risks

IFI governance

Background

4 October 2016 | Minutes

Emerging Lessons from Indigenous Peoples’ Cases

Notes from a side event on emerging lessions from indigenous peoples cases of the Inspection Panel, which took place during the World Bank-IMF 2016 annual meetings.

IFI governance

Background

4 October 2016 | Minutes

CSO roundtable with World Bank Group Executive Directors

Notes from a CSO roundtable with World Bank Group Executive Directors at the IMF/World Bank 2016 annual meetings.

IFI governance

Background

17 April 2015 | Minutes

Safeguard policies review

Notes from a meeting on the World Bank safeguards review during the World Bank spring meetings.

IFI governance

Background

17 April 2015 | Minutes

What are the trends in the energy sector?

Notes from a meeting on energy during the World Bank spring meetings.

IFI governance

Background

17 April 2015 | Minutes

Ebola debt relief – Implications and next steps

Notes from a meeting on Ebola during the World Bank spring meetings.

IFI governance

Background

16 April 2015 | Minutes

Development policy financing retrospective: Emerging findings and lessons

Notes from a meeting on the World Bank's Development Policy Finance retrospective during the Word Bank spring meetings.

IFI governance

Background

16 April 2015 | Minutes

Aligning the financial system with sustainable development

Notes from a meeting on the financial system and sustainable development during the World Bank/IMF spring meetings.

IFI governance

Background

11 October 2014

Sovereign debt restructuring: options, obstacles and opportunities

Notes of a meeting on sovereign debt restructuring at the World Bank-IMF annual meetings 2014

IFI governance

Background

11 October 2014

The impact of the BRICS’ Contingent Reserve Arrangement (CRA) and the New Development Bank (NDB)

Notes of a meeting on BRICS’ Contingent Reserve Arrangement (CRA) and the New Development Bank (NDB) at the World Bank-IMF annual meetings 2014

IFI governance

Background

10 October 2014 | Minutes

UK civil society meeting with UK World Bank Executive Director Gwen Hines

Notes of a meeting with World Bank executive director Gwen Hines in October 2014.

IFI governance

Background

10 October 2014

IFC Update on Dinant financing

Notes of an IFC update on Dinant financing at the World Bank-IMF annual meetings 2014

IFI governance

Background

10 October 2014

Discussion with the IFC/MIGA Compliance Advisor Ombudsman (CAO)

Notes of a discussion with the IFC/MIGA Compliance Advisor Ombudsman (CAO) at the World Bank-IMF annual meetings 2014

IFI governance

Background

10 October 2014

From interim strategy to full country partnership: lessons from Myanmar

Notes of a meeting on Myanmar's transition to full country partnership at the World Bank/IMF annual meetings 2014

IFI governance

Background

9 October 2014

Financing for development: What actions are needed on debt and illicit capital flows?

Notes of a meeting on financing for development at the World Bank-IMF annual meetings 2014

IFI governance

Background

9 October 2014

Matching money and expertise: ensuring conflict sensitivity is top of the agenda for the bank's fragile state financing

Notes of a meeting on matching money and expertise at the World Bank-IMF annual meetings 2014

IFI governance

Background

9 October 2014

After SCOTUS: Next steps in sovereign debt restructuring

Notes of a meeting on sovereign debt restructuring after SCOTUS at the World Bank-IMF annual meetings 2014

IFI governance

Background

9 October 2014

IFC lending through financial intermediaries - a year on from the action plan, what have we learned?

Notes of a meeting on IFC lending through financial intermediaries at the World Bank-IMF annual meetings 2014

IFI governance

Background

8 October 2014

Governance and impact report 2014

Notes of a meeting on governance and impact report 2014 at the World Bank-IMF annual meetings 2014

IFI governance

Background

8 October 2014

Comparative analysis of social and environmental safeguards in IFIs

Notes of a meeting on comparative analysis of social and environmental safeguards in IFIs at the World Bank-IMF annual meetings 2014

IFI governance

Background

8 October 2014

Emerging markets in transition: growth prospects and challenges

Notes of a meeting on emerging markets in transition at the World Bank-IMF annual meetings 2014

IFI governance

Background

8 October 2014

Making PPPs work

Notes of a meeting on how to make PPPs work at the World Bank-IMF annual meetings 2014

IFI governance

Background

7 October 2014

CSO roundtable with Executive Directors

Notes of CSO roundtable with Executive Directors at the World Bank-IMF annual meetings 2014

IFI governance

Background

7 October 2014

CSO land rights and resettlement

Notes of a meeting with CSOs on land rights and resettlement at the World Bank-IMF annual meetings 2014

Conditionality

Background

22 April 2014 | Minutes

Reforming IMF conditionality. Where do we stand?

IFI governance

Background

12 April 2014

An overview of the World Bank Group's new country engagement model

Conditionality

Background

12 April 2014

IMF recommendations to Arab countries in transition: Challenges & prospects

Finance

Background

11 April 2014

Financial tremors in developing countries: is another earthquake on the way?

IFI governance

Background

11 April 2014

What does real accountability mean in practice?

IFI governance

Background

9 April 2014

Mega-project mania?

IFI governance

Background

23 January 2014 | Resource

Recommended resources on the World Bank and IMF 2013

The best papers, books and electronic resources on the World Bank and IMF from 2013.

Rights

Background

14 October 2013 | Minutes

Review and update of the World Bank’s safeguard policies

Minutes from a side event with the World Bank safeguards team presenting an update on the review process during the World Bank/IMF annual meetings 2013.

IFI governance

Background

13 October 2013 | Minutes

Meeting president Kim’s pledge of “no dilution” for safeguards

Minutes of a civil society meeting on upward harmonisation of World Bank safeguards during the World Bank/IMF annual meetings 2013.

IFI governance

Background

13 October 2013 | Minutes

Continuing conversations with CAO

Minutes from a CAO sponsored event during the 2013 World Bank/IMF annual meetings.

IFI governance

Background

13 October 2013 | Minutes

World Bank Group strategy and reform process

Minutes from a World Bank sponsored event on the new World Bank Group strategy during the 2013 WB/IMF annual meetings.

IFI governance

Background

13 October 2013 | Minutes

Why the Bank and Fund provide too little debt relief too late – and what can be done about it

Expert panelists discuss the need for comprehensive and automatic debt restructuring mechanisms, at the Annual Meetings 2013 civil society forum

IFI governance

Background

13 October 2013 | Minutes

Is the European recovery finally under way?

CEPR event at the 2013 civil society forum on whether a recovery is under way in Europe; held as a debate between Prakash Loungani of the IMF's research department and Mark Weisbrot, CEPR co-director.

IFI governance

Background

13 October 2013 | Minutes

Subsidy reform in Arab countries: Reflection on IMF recommendations

New America Foundation civil society event on subsidy reform in Arab countries, held in the civil society forum of the 2013 IMF/World Bank annual meetings

IFI governance

Background

12 October 2013 | Minutes

Austerity and Inequality in Europe

Minutes from Oxfam-hosted civil society seminar at 2013 Annual meetings on European austerity and inequality

IFI governance

Background

10 October 2013 | Minutes

IMF consultation: CSO views on fiscal transparency policy

Minutes of an IMF consultation on fiscal transparency policy

IFI governance

Background

25 April 2013 | Minutes

Doing Business at the crossroads: ten years

Spring meetings side event hosted by the Center for Strategic and International Studies on 19 April 2013

Infrastructure

Background

23 April 2013 | Minutes

Colombia case study: results measurement and poverty eradication

This session examined Colombia's private sector partnerships and poverty eradication programme.

IFI governance

Background

23 April 2013 | Minutes

The private sector and poverty eradication

This session gave an overview on the links between private sector and healthcare provision in tackling poverty.

IFI governance

Background

22 April 2013 | Minutes

Bending the arc of poverty

The session focused on the World Bank's development strategy, poverty eradication goals, global inequality, and the threat of climate change.

IFI governance

Background

22 April 2013 | Minutes

Financial and housing crises, the Bank's safeguards and the right to adequate housing

This session featured a presentation from UN special rapporteur on the links between financial and housing crises, safeguards and the right to adequate housing.

IFI governance

Background

22 April 2013 | Minutes

The challenges of advancing sustainability at the World Bank

This panel discussion reflected on the major sustainability challenges facing the World Bank through exploring two World Resources Institute areas - a portfolio analysis on 2012 projects, and the interaction between country systems and World Bank safeguard approaches.

IFI governance

Background

22 April 2013 | Minutes

From the Arab revolutions to global austerity trends

This session examined issues thrown up by the Arab revolutions, including the fiscal, monetary, tax and investment policies being considered by governments facilitating, or hindering countries in the Arab and other regions in building an inclusive economy and supporting socioeconomic recovery, the impact on public expenditure for the strengthening of education, health, and other social sectors as well as the management of chronic and high unemployment and high food and fuel prices.

IFI governance

Background

18 April 2013 | Minutes

After recent court decisions: how can sovereign debt workouts become fair, comprehensive and account

This session examines the challenges which recent court decisions pose to sovereign debt workouts that allow for burden-sharing and take into account the social development needs of debtor countries.

Knowledge

Background

18 April 2013 | Minutes

Frameworks to support IMF policy advice to low-income countries

This event examined financial Sector Surveillance in Low Income Countries - Financial Deepening and Macro-stability Financial Deepening and Macro-Stability

IFI governance

Background

18 February 2013 | Minutes

UK Civil Society Meeting with Minister of State Rt Hon Alan Duncan MP

This was a meeting on 1 October 2012, between the Minister of State of the UK's Department for International Development (DFID) and civil society representatives, focusing on the World Bank.

IFI governance

Background

13 October 2012 | Minutes

World Bank Inspection Panel at 19: Some Lessons for Safeguard Policy

This panel discussion centered on the possible policy lessons for the Safeguard Review of learning from the emblematic or most frequently registered cases of non-compliance with Bank safeguard policies, particularly project supervision, environmental assessment, and involuntary resettlement.

IFI governance

Background

13 October 2012 | Minutes

Think tanks: promoting local solutions, influencing global thinking

This session brought together representatives of three leading policy research organizations from Bangladesh, Tanzania and Ecuador, to share their experiences and analysis of the potential of think tanks to promote local solutions and influence global thinking.

Infrastructure

Background

13 October 2012 | Minutes

Post Fukushima: The Role of the Financial Sector in Energy Future

This session introduced the audience to an overview of global energy issues and specific analyses of the environment and economic impacts of Fukushima nuclear power accident, and discussed the roles of the financial sector in viable global energy future.

Accountability

Background

12 October 2012 | Minutes

Doing business report rankings

This session will bring together experts from labour, development and business organizations to highlight issues and perspectives that need to be part of the review of these influential rankings.

IFI governance

Background

12 October 2012 | Minutes

IMF consultation meeting on engagement with civil society: review and way forward

This session sought to gather CSO views, suggestions, and concerns on how to improve the current guidelines, including IMF consultation processes on policies, strategies, and Article. IV consultations

IFI governance

Background

12 October 2012 | Minutes

Citizen-Led Accountability at the World Bank Group: experiences of independent recourse mechanisms

This session aimed to gather CSO views, suggestions, and concerns on how to improve the current guidelines, including IMF consultation processes on policies, strategies, and Art. IV consultations.

IFI governance

Background

12 October 2012 | Minutes

Facilitating international adjustment through timely debt resolution

This session highlighted the perspectives of finance ministers, policy makers, and academics on the need to ensure timely, effective international adjustment in a manner consistent with sustained global growth and continued adherence to the system of open, dynamic international trade and payments constructed over the past 65 years.

Rights

Background

12 October 2012 | Minutes

World Bank safeguard review and CSOs approaches in their engagement

Interaction between the Bank and CSOs on the approach paper through this panel provided an opportunity for the Bank and CSOs to highlight areas of importance and provide input about the direction of the safeguard review.

IFI governance

Background

11 October 2012 | Minutes

The Role of the Independent Evaluation Group (IEG)

This session provided CSOs with the opportunity to have an exchange with IEG's Director-General and Senior Vice President on the role of the IEG.

IFI governance

Background

11 October 2012 | Minutes

Global financial regulations and their Impact on major campaigns

This event was a collegial information-sharing and strategy session to explore the linkages between financial regulations and grass roots campaigns.

IFI governance

Background

11 October 2012 | Minutes

CSO Townhall with Jim Yong Kim and Christine Lagarde

This townhall was for CSO representatives accredited to the Annual Meetings. The CSO Discussants made initial remarks on Fund and Bank policies and were followed by comments from Mr. Kim and Ms. Lagarde. This was then followed by a general discussion on issues of concern to CSO representatives.

IFI governance

Background

11 October 2012 | Minutes

From country systems to DPLs: understanding the World Bank's approach to social and environmental ri

This session will discuss the strengths and weaknesses of the Bank’s approaches with respect to different financial instruments and evaluate the challenges of ensuring coherence in environmental and social sustainability outcomes across instruments.

IFI governance

Background

10 October 2012 | Minutes

Making global governance accountable: civil society experiences with 13 Institutions

This session discussed the conclusions reached on the global governance role of civil society by the Civil Society and Accountable Global Governance project.

IFI governance

Background

3 August 2012 | Minutes

IFI re-engagement in Burma

Minutes of Burma and IFIs meeting, Washington DC, 18 April 2012

IFI governance

Background

23 April 2012 | Minutes

EIR + 10

Minutes of afternoon sessions of extractives conference, Washington DC, 23 April 2012

IFI governance

Background

23 April 2012 | Minutes

2012 Tokyo Annual Meeting Planning Session

2012 Tokyo Annual Meeting Planning Session held on Saturday, 21 April.

IFI governance

Background

21 April 2012 | Minutes

Lessons from IEG's Cluster Review of IFC-supported Extractive Industries Projects

Minutes of IFC and extractives meeting, Washington DC, 21 April 2012

IFI governance

Background

21 April 2012 | Minutes

Safeguards in a Changing Landscape

Minutes of safeguards meeting, Washington DC, 21 April 2012

Finance

Background

20 April 2012 | Minutes

How can the IMF enhance its focus on growth and poverty reduction in LICS?

A civil society meeting held at the World Bank and the IMF hold their 2012 spring meetings in Washington DC on Friday 20th April.

IFI governance

Background

20 April 2012 | Minutes

Seminar - Time for a New Consensus: Regulating Financial Flows for Stability and Development

As the World Bank and the IMF hold their 2012 spring meetings in Washington DC this week, Latindadd and the Bretton Woods Project organised a seminar about regulating financial flows on Thursday 19 April.

IFI governance

Background

20 April 2012 | Minutes

Austerity in the Eurozone

Seminar at the Spring meetings 2012, 19 April 12

Infrastructure

Background

20 April 2012 | Minutes

Kosovo's options for a sustainable energy future

Minutes of presentation and discussion on Kosovo's options to develop a sustainable energy future, Washington DC, 20 April 2012.

Infrastructure

Background

20 April 2012 | Minutes

World Bank's Climate Investment Funds 4 years later

Minutes of meeting on the World Bank-housed Climate Investment Funds and the Green Climate Fund, Washington DC, 19 April 2012

Land

Background

20 April 2012 | Minutes

Agriculture and Food Security

Minutes of agriculture and food security meeting, Washington DC, 19 April 2012

Infrastructure

Background

20 April 2012 | Minutes

Climate change, energy access and sustainable development

Minutes of climate change and energy access meeting, Washington DC, 18 April 2012

IFI governance

Background

19 April 2012 | Minutes

Supporting Social Accountability for Better Results

Minutes of World Bank Social accountability plenary, Washington DC, 19 April 2012

IFI governance

Background

19 April 2012 | Minutes

Development Policy Lending (DPL) Retrospective consultation

Minutes meeting, Washington DC, 18 April 2012

Environment

Background

19 April 2012 | Minutes

IMF Consultation on Natural Resources Management and Taxation

Notes of meeting, Spring meetings 2012, Washington DC

Infrastructure

Background

26 September 2011 | Minutes

India's energy future: Consequences of India's coal rush and alternative energy scenarios

Notes of a panel discussion, Washington DC, 20 September 2011

Infrastructure

Background

26 September 2011 | Minutes

India's energy future: What role for the Bank?

Notes of meeting, Washington DC, September 21, 2011

Gender

Background

26 September 2011 | Minutes

Civil Society Strategy Meeting on the Doing Business rankings

Notes of a meeting, Washington DC, 21 September 2011

Environment

Background

26 September 2011 | Minutes

CSO Roundtable with Lars Thunel

Notes of a meeting, Washington DC, 21 September 2011

Environment

Background

26 September 2011 | Minutes

Safeguards and climate finance in Indonesia in the context of REDD+

Notes of meeting, Washington DC, September 23, 2011

Gender

Background

23 September 2011 | Minutes

Seminar - Gender Equality Matters: The Way Forward

Notes of meeting, Washington DC, September 21, 2011

IFI governance

Background

23 September 2011 | Minutes

CSO Townhall with Robert Zoellick and Christine Lagarde

Notes of meeting, Washington DC, September 22, 2011

Infrastructure

Background

23 September 2011 | Minutes

Scaling up Climate Finance

Notes of meeting, Washington DC, September 22, 2011

IFI governance

Background

23 September 2011 | Minutes

Financial Transaction Tax implementation

Notes of a meeting, Washington DC, 22 September 2011

Finance

Background

23 September 2011 | Minutes

Real Aid

Notes of a panel discussion, Washington DC, 21 September 2011

Environment

Background

23 September 2011 | Minutes

Plundered nations?

Notes of a meeting, Washington DC, 21 September 2011

IFI governance

Background

18 April 2011 | Minutes

Consultation on Program for Results (P4R)

Notes of meeting, Washington DC, April 16, 2011

Rights

Background

18 April 2011 | Minutes

Safeguards consultation, World Bank, 16 April 2011

Summary of consultation held at the World Bank in Washington, 16 April 2011

IFI governance

Background

18 April 2011 | Minutes

IFC and Financial Intermediary Lending

Notes of meeting, Washington DC, April 15, 2011

IFI governance

Background

15 April 2011 | Minutes

How the Financial Stability Board Affects Development Prospects: Opening the Black Box

Notes of a meeting held in Washington DC, 15 April 2011

Finance

Background

14 April 2011 | Minutes

IFC's international development goals

IFC staff member discusses plans for goals to guide future work in private sector development.

Land

Background

14 April 2011 | Minutes

The regulation of excessive speculation in commodity markets: what's at stake

Financial experts critically discuss commodity speculation.

IFI governance

Background

13 April 2011 | Minutes

IMF triennial surveillance review

Notes of meeting, Washington DC, April 13, 2011

Finance

Background

13 April 2011 | Minutes

Meeting between the UK IMF Executive Director Alex Gibbs, HM Treasury and UK civil society organisat

Notes of the seminar of spring meetings 2011

Environment

Background

12 October 2010 | Minutes

Energy, Poverty, Sustainability and Climate Change

Minutes of a seminar at the 2010 annual meetings, 8 October 2010

IFI governance

Background

12 October 2010 | Minutes

Held in reserve: can a new approach to monetary policy transform the global economic outlook?

Minutes of an experts seminar held on the sidelines of the 2010 Annual Meetings of the IMF, 7 October 2010

IFI governance

Background

12 October 2010 | Minutes

Investment lending reform

A briefing by World Bank staff on the investment lending reform, 9 October 2010

Knowledge

Background

11 October 2010 | Minutes

Post MDG Summit

Notes of the seminar of annual meetings 2010

IFI governance

Background

11 October 2010 | Minutes

Future of the global financial and monetary system

Notes of the seminar of annual meetings 2010

IFI governance

Background

11 October 2010 | Minutes

Global economic governance

Notes of the seminar of annual meetings 2010

Conditionality

Background

8 October 2010 | Minutes

Civil Society Townhall Meeting with Robert Zoellick and Dominique Strauss-Kahn

Notes of the seminar of annual meetings 2010

Knowledge

Background

7 October 2010 | Minutes

Meeting between the UK IMF Executive Director Alex Gibbs , HM Treasury and UK civil society organisa

Notes of the seminar of annual meetings 2010

IFI governance

Background

29 April 2010 | Minutes

Future of the World Bank: major reforms or a series of minor adjustments?

Civil society event at the World Bank spring meetings 2010, 24 April

Infrastructure

Background

26 April 2010 | Minutes

Launch of Bank Information Center's (BIC's) model energy strategy

Civil society event at the World Bank spring meetings 2010, 24 April

IFI governance

Background

26 April 2010 | Minutes

A sustainable World Bank energy strategy: perspectives from various stakeholders

Civil society event at the World Bank spring meetings 2010, 23 April

IFI governance

Background

26 April 2010 | Minutes

Evaluation as a critical tool for accountability

Civil society event at the World Bank spring meetings 2010, 23 April

IFI governance

Background

23 April 2010 | Minutes

An IMF for the 21st century - the low-income country perspective

Civil society event at the World Bank spring meetings 2010, 22 April

Environment

Background

23 April 2010 | Minutes

Financing the response to climate change: special drawing rights (SDRs) for climate finance

Civil society event at the World Bank spring meetings 2010, 22 April

Infrastructure

Background

23 April 2010 | Minutes

Governance challenges in financing green and sustainable energy policies

Freidrich-Ebert-Stiftung event at the World Bank spring meetings 2010, 22 April

Infrastructure

Background

23 April 2010 | Minutes

Roundtable on post-crisis economic recovery

World Bank event at the World Bank spring meetings 2010, 22 April

Environment

Background

23 April 2010 | Minutes

World Bank, climate change and climate finance

Civil society event at the World Bank spring meetings 2010, 22 April

IFI governance

Background

9 October 2009 | Minutes

The IMF and protectionist trade policies: What does the record of the past 15 years tell us?

Seminar on the IEo evluation of IMF trade policy advice in Istanbul, 2 October 2009.

IFI governance

Background

8 October 2009 | Minutes

Financial sector policies in the crisis

Programme of Seminars session in Istanbul on 3 October 2009 with Zeti Aziz, Andrew Crockett, Christine Cummings, Sayed Sadeeq, and John Laker.

Environment

Background

8 October 2009 | Minutes

CSO Townhall meeting

Notes from the CSO townhall meeting with Dominique Strauss-Kahn and Robert Zoellick

IFI governance

Background

8 October 2009 | Minutes

IMF governance - CSO meeting with the IMF managing director

Minutes of a meeting between civil society organisations, IMF managing director Dominique Strauss-Kahn and IMF deputy managing director John Lipsky

Environment

Background

6 October 2009 | Minutes

Consultation meeting on World Bank environmental strategy

Summary of the first consultation on their new environment strategy, which they will develop next year.

IFI governance

Background

5 October 2009 | Minutes

The impact of financial regulation on developing countries

The impact of financial regulation on developing countries, World Bank Programme of Seminars, with Mingkang Liu, Joseph Stiglitz, and Alvir Hoffman.

Conditionality

Background

5 October 2009 | Minutes

The IMF: Change we can believe in?

The IMF: Change we can believe in? Notes of a civil society meeting in Istanbul. Speakers include Joseph Stiglitz, Andrew Kumbatira, Caroline Atkinson, and Bhumika Muchhala.

IFI governance

Background

5 October 2009 | Minutes

Future of the Global Financial System

Notes of part of a panel debate chaired by Martin Wolf of the Financial Times, Istanbul, 4 October 2009.

Finance

Background

4 October 2009 | Minutes

Report launch: Post-crisis growth in developing countries

Growth commission event in Istanbul.

IFI governance

Background

4 October 2009 | Minutes

The UN conference and the G20 summit

Minutes from The UN conference and the G20 summit, civil society policy forum discussion on 3 October 2009. Istanbul, Turkey

IFI governance

Background

4 October 2009 | Minutes

Critical debate on the World Bank and IMF

Summary of a presentation made by Professor Anwar Shaikh, the New School for Social Research, on "Monetary Policy and the Global Crisis"

IFI governance

Background

4 October 2009 | Minutes

Global economic governance roundtable

Summary of a discussion with German government representatives, Jomo KS of the UN and civil society organisations.

Environment

Background

27 April 2009 | Minutes

The World Bank's programs on forests and climate change

A civil society event organised by World Resources Institute (WRI) at the World Bank spring meetings 2009

IFI governance

Background

27 April 2009 | Minutes

Compliance Advisory Ombudsman review of standards for Bank’s private sector lending

Notes of a session with the CAO at the World Bank spring meetings, Washington, DC, April 22, 2009.

IFI governance

Background

25 April 2009 | Minutes

IMF crisis response- discussion

Notes of a meeting between the IMF and civil society organisations

Environment

Background

13 April 2008 | Minutes

Dialogue with NGOs and Lars Thunell, Executive Vice President and CEO, IFC

Dialogue with NGOs and Lars Thunell, Executive Vice President and CEO, IFC

Environment

Background

11 April 2008 | Minutes

Macroeconomic and fiscal implications of climate change and the policies to address it

A briefing by IMF economists at the spring meetings 2008.

IFI governance

Background

11 April 2008 | Minutes

Briefing on the World Bank's Six Strategic Themes

Minutes of a briefing by World Bank staff on the WBG's six strategic themese

Conditionality

Background

11 April 2008 | Minutes

IMF consultation in advance of the PSI review

Notes of a consultation between IMF staff and NGOs in advance of the PSI review

Social services

Background

10 April 2008 | Minutes

Structural conditionalities in the IMF: A discussion between the IMF, IEO, and CSOs

An upcoming civil society report demonstrates that IMF structural conditionality did not decline in the five years after the approval of the Fund's conditionality guidelines in September 2002, which were based on the principles of ownership and criticality in its application of structural conditionality, as well as to streamlining the number of conditions. Going on seven years, it seems that these guidelines have been more honoured in principle than in practice. A recent Independent Evaluation O

Finance

Background

26 October 2007 | Minutes

Macroeconomic aspects of aid scaling up and the role of the Fund

Highlights of a 21 October discussion on the macroeconomics of aid scaling up at the World Bank-IMF annual meetings 2007.

Conditionality

Background

26 October 2007 | Minutes

Wage bill ceilings, fiscal and monetary policies and absorbing aid inflows - updates and next steps

Highlights of a 20 October discussion on the the IMF's fiscal and monetary policy advice and conditionality for low-income countries at the World Bank-IMF annual meetings 2007.

IFI governance

Background

26 October 2007 | Minutes

Rethinking the governance of the IMF

Highlights of a 19 October discussion on the reform of IMF governance at the World Bank-IMF annual meetings 2007.

IFI governance

Background

26 October 2007 | Minutes

The role of low-income countries in IFI governance

Highlights of a 19 October discussion on the role of low-income countries in IMF governance at the World Bank-IMF annual meetings 2007.

Conditionality

Background

26 October 2007 | Minutes

The IMF's Policy Support Instrument: more flexibility or continued belt tightening

Highlights of a 21 October discussion on the IMF's Policy Support Instrument (PSI) at the World Bank-IMF annual meetings 2007.

Environment

Background

23 October 2007 | Minutes

Townhall meeting and reception with World Bank and IMF presidents and civil society representatives

Highlights of an 18 October 'town hall' meeting between WB-IMF heads and CSOs.

Environment

Background

23 October 2007 | Minutes

The agenda of the Development Committee and the provision of Global Public Goods

Highlights of a 20 October meeting hosted by the FES Foundation on global public goods, at the World Bank-IMF annual meetings 2007.

Infrastructure

Background

23 October 2007 | Minutes

Climate change and clean energy challenges and opportunities in addressing Africa's growing energy n

Highlights of a meeting at the World Bank-IMF annual meetings 2007.

Infrastructure

Background

23 October 2007 | Minutes

Low carbon, high hopes: making climate action work for development

Highlights of a 19 October meeting at the World Bank-IMF annual meetings 2007.

Environment

Background

5 October 2007 | Minutes

Highlights of BWI-UK network meeting with Douglas Alexander

Highlights of a 4 October meeting between NGOs in the BWI-UK network and secretary of state for international development, Douglas Alexander, addressing IFI strategic reviews, aid effectiveness, clean energy/climate change and a number of other issues.

Conditionality

Background

27 April 2007 | Minutes

IMF macroeconomic policies and the impacts on education budgets and teacher wages

IMF civil society dialogue, spring meetings 2007 (14 April 2007)

Conditionality

Background

27 April 2007 | Minutes

IEO Evaluation of the IMF and Aid to Sub-Saharan Africa

Civil society dialogue, spring meetings 2007 (12 April 2007) on the IEO Evaluation of the IMF and Aid to Sub-Saharan Africa

IFI governance

Background

27 April 2007 | Minutes

European CSO meeting with European IMF EDs

Incomplete minutes of European CSO meeting with European IMF EDs, 13 April 2007

Conditionality

Background

20 April 2007 | Minutes

Fiscal space and fiscal priorities: Infrastructure, trade and poverty

This panel discussion addressed the pros and cons of fiscal space for infrastructure when infrastructure is trade-related, what they mean for current proposals by the World Bank and IMF on fiscal space, and the importance of an assessment that looks jointly at the trade and financial aspects on the grounds of poverty reduction, development and environment goals.

Conditionality

Background

19 April 2007 | Minutes

Sub-Saharan Africa: Outlook and Challenges

Sub-Saharan Africa: Outlook and Challenges; IMF-civil society dialogue, 13 April 2007

IFI governance

Background

26 October 2006 | Minutes

Highlights of Hilary Benn meeting with UK NGOs

Highlights of semi-annual meeting between UK Secretary of State for International Development and UK NGOs. Topics covered include CSO access to annual meetings, conditionality, anti-corruption, odious debt, clean energy, education in LICUS, bank internal governance, IFC safeguards

IFI governance

Background

26 September 2006 | Minutes

Highlights of Tom Scholar meeting with UK NGOs

Highlights of quarterly meeting between UK executive director to the World Bank and IMF and UK NGOs. Topics covered include CSO access to annual meetings, IMF strategic review, conditionality, anti-corruption and education.

IFI governance

Background

28 June 2006 | Minutes

Highlights of Tom Scholar meeting with UK NGOs, Monday 26 June 2006

Highlights of Tom Scholar meeting with UK NGOs, Monday 26 June 2006

IFI governance

Background

9 May 2006 | Minutes

Policy issues in scaling up of aid flows

Highlights of a spring meetings dialogue hosted by the IMF on scaling-up aid, where senior Fund staff Peter Heller walked out.

Social services

Background

28 April 2006 | Minutes

Evaluating the impact of the PRGF: The cases of Ethiopia, Malawi, Tanzania and Zambia

Highlights of a civil society dialogue on the IMF Poverty Reduction and Growth Facility, at the World Bank spring meetings in Washington, 20 April 2006.

Infrastructure

Background

27 April 2006 | Minutes

World Bank dialogue on the clean energy investment framework

Highlights of a World Bank-organised dialogue on its new clean energy investment framework at the spring meetings in Washington, 24 April 2006.

IFI governance

Background

25 April 2006 | Minutes

Briefing on the implementation of new IFC performance standards

Briefing on the implementation of new IFC performance standards at the World Bank-IMF spring meetings in Washington, 20 April 2006.

Conditionality

Background

25 April 2006 | Minutes

Dialogue on national development strategies and the Millennium Development Goals

Dialogue on national development strategies and the Millennium Development Goals at the World Bank-IMF spring meetings in Washington, 20 April 2006.

Finance

Background

25 April 2006 | Minutes

Dialogue on Fund role in middle-income countries

Dialogue on Fund role in middle-income countries at the World Bank-IMF spring meetings in Washington, Thursday 20 April.

IFI governance

Background

6 October 2004 | Minutes

Grants or Loans? The Full Debate

The session considered the arguments surrounding the provision of grants or loans by IDA. It considered the recent call by President Bush for the World Bank and other development banks to provide more of their funds to the poorest countries as grants, in recognition of the pivotal role that grants play in providing prudent financing for pressing development needs.

IFI governance

Background

4 October 2004 | Minutes

CSO meeting with European Executive Directors

Note from meeting in Washington between European IFI network and European EDs as part of the civil society programme of the World Bank and IMF Annual Meetings 04.

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IFI governance

Analysis

Spring Meetings 2018 wrap-up: Bigger and better you say?!

Analysis and look-back of this year's World Bank and IMF Spring Meetings; CSOs remain unconvinced of Bank's capital increase while Fund deals with looming debt crisis.

24 April 2018

IFI governance

Analysis

Development Committee communiqué analysis - Spring 2018

Analysis of the Development Committee communiqué issued on 21 April, from the 2018 World Bank-IMF Spring Meetings, Washington DC.

24 April 2018

IFI governance

Analysis

G24 communiqué analysis - Spring 2018

Analysis of the G24 communiqué, issued on 19 April, from the 2018 World Bank-IMF Spring Meetings, Washington DC.

23 April 2018

IFI governance

Analysis

IMFC communiqué analysis – Spring 2018

Analysis of the IMFC communiqué, issued on 18 April, from the 2018 World Bank-IMF Spring Meetings, Washington DC.

23 April 2018

IFI governance

Background

A lost decade for human rights? Assessing austerity and its alternatives 10 years on from the financial crisis

Notes from the 20 April Civil Society Policy Forum session on assessing austerity and its alternatives 10 years after the global financial crisis at the World Bank and IMF's Spring Meetings.

20 April 2018 | Minutes

IFI governance

Background

Financing development through financial intermediaries: Exploring best practices in transparency

Notes from the 19 April Civil Society Policy Forum session on financing development through financial intermediaries at the World Bank and IMF Spring Meetings.

19 April 2018 | Minutes

IFI governance

Background

Financial crisis 10 years on. Has the response to 2008 laid the foundations for the next?

Notes from the 19 April Civil Society Policy Forum session on the response to the 2008 financial crisis at the World Bank and IMF's Spring Meetings.

19 April 2018 | Minutes

IFI governance

Background

The promotion of Public-Private Partnerships – exporting a failed model?

Notes from the 19 April Civil Society Policy Forum session on the World Bank's promotion of public-private partnerships at the World Bank and IMF's Spring Meetings.

19 April 2018 | Minutes

IFI governance

Background

Big Shift: How can the Development Banks align with the Paris Agreement?

Notes from the 18 April Civil Society Policy Forum session on aligning multilateral development banks with the Paris Agreement at the World Bank and IMF's Spring Meetings.

18 April 2018 | Minutes

IFI governance

Background

Can the World Bank improve energy access for the poor? The importance of transparency in achieving the SDGs

Notes from the 18 April Civil Society Policy Forum session on the World Bank's approach to financing energy access at the Work Bank and IMF's Spring Meetings.

18 April 2018 | Minutes