IFC investments in Burma hotels have been criticised for weak poverty reduction impact. IFC claims that investment in luxury hotels in India will provide “affordable hotels”.
New Bretton Woods Project report reveals World Bank Group channelling crucial development resources to banks instead of directly investing in pro-poor projects.
In response to the IFC’s shaming over its involvement with Dinant corporation in Honduras, the institution produced a “lessons learned” document. However, it has been rejected by campaigners, who are demanding more fundamental reform.
A letter from civil society in response to the IFC's lesson learned briefing
IFC staff and NGO representatives discussed financial intermediaries lending in a closed door meeting on Sunday 13 April.
An IFC investment in ANZ Royal Bank has been criticised after the bank was implicated in a “massive land grab” in Cambodia. Further cases from Guatemala and Honduras reinforce calls for IFC to rethink its investments in financial intermediaries.
CSO concerns have been raised over the Bank’s Global Partnership for Oceans initiative, due to the strong emphasis on promoting aquaculture and the push for privatisation of access to fish resources.
IFC investments in luxury hotels and shopping malls highlight projects with weak development outcomes.
Khasi indigenous people in Indian state of Meghalaya have filed a complaint with the CAO over illegal land infringement by French multinational Lafarge's Bangladeshi cement plant.
An international statement, signed by 70 organisations, in response to the publication in mid January of a CAO audit and the IFC response and action plan related to IFC investment in Corporación Dinant, Honduras.