CAO audit finds IFC failed to identify gaps in project’s social and environmental assessment, while communities impacted by the project face impacts on water source, livelihoods and levels of violence.
The World Bank has announced funding for the controversial Southern Gas Corridor, while exiting two other high profile but problematic megaprojects, Inga 3 in Democratic Republic of Congo and Simandou in Guinea.
The World Bank has suspended funding for the much criticised Inga 3 hydro power project in the Democratic Republic of Congo.
The Inspection Panel has deferred a decision to investigate a complaint regarding environmental, social and economic damage related to a World Bank funded mining project in Mongolia.
Calls by the World Bank for hydropower to play a major role in efforts to strengthen resilience to climate change have been challenged by civil society organisations and recent research.
A World Bank report calling for closer collaboration between mining and energy companies in Africa is criticised for underplaying risks and neglecting more efficient energy options for the poor.
The Guatemalan government has agreed to pay around $155 million in reparations to local indigenous communities who suffered human rights abuses as a result of the construction of the World Bank funded Chixoy dam
World Bank faces increased competition over large scale infrastructure in Asia, with the Asian Infrastructure Investment Bank and the BRICS Bank.
The World Bank has confirmed its intention to develop a Global Infrastructure Facility, prioritising projects that have stalled due to size or complexity, while concerns continue over the Bank’s support for the Democratic Republic of Congo Inga dams.
In March the Bank approved funding related to the controversial Inga 3 dam project in the Democratic Republic of Congo, while an academic study finds large dams often are neither cost efficient nor carbon neutral.