IMF reaches new loan agreement with Mongolia, amidst civil society concerns about impacts on Mongolian people.
East Asia & Pacific
ICSID, a World Bank arm for investor-state dispute arbitration, ruled that the $250 million case brought by Pac Rim Cayman against El Salvador in 2009 was without merit.
The IFC’s push for the PPP model, as well as its preference for healthcare ‘provision’ and the results-based payment approach, collectively undermine the human right to universal healthcare and the achievement of the SDGs.
A CSO report has found that the World Bank’s development policy lending is supporting incentives for fossil fuels in Egypt, Indonesia, Mozambique and Peru.
An IMF staff blog has acknowledged weaknesses in IMF’s approach to debt sustainability, meanwhile civil society continues to demand human rights-based approach considering who bears burden of debt repayment.
New report provides evidence that IFC investments in financial intermediaries (FIs) support the construction of coal power plants in contradiction to World Bank policy and IFC statements that FI lending is ring-fenced and does not support coal.
A revised Clean Technology Fund (CTF) pipeline management and cancellation policy has been approved. A document outlining further details on the proposed “CTF 2.0” will be discussed. Approval for reallocation of funds for a Morocco project was challenged by Germany and the decision postponed.
Pipeline management and cancellation policies are in preparation for the Pilot Program for Climate Resilience (PPCR) to address funding constraints, with no funding available for new pilot countries’ projects. Questions were raised about gender impacts for a renewable energy project in Mozambique.
Challenges in measuring progress were noted for the Forest Investment Program (FIP), in particular greenhouse gas accounting. Investment plans for Mozambique and Ivory Coast have been approved. Questions were raised over the reasoning for a commercial teak plantation project in Ghana.
A new a new Enhanced Private Sector Program for the Scaling up Renewable Energy Program in Low Income Countries (SREP) is due to discussed. Cambodia’s investment plan has been approved. Social, environmental and financial risks related to a Nicaragua geothermal project were raised.
New edition of the Bretton Woods Project's biannual Climate Investment Funds (CIFs) Monitor, including an update on the Green Climate Fund, published to coincide with the World Bank-hosted CIFs trust fund committee meetings.
Notes from a side event at the IMF/World Bank 2016 annual meetings on the role of management in ensuring development banks responds appropriately to community complaints.