As the IFC sets out a new strategy, CAO and CSO reports have raised further criticism over its investment in financial intermediaries, and a new law suit challenges its immunity.
Latin America & Caribbean
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.
CSOs have refused to participate in a World Bank PPP consultation until transparency and accountability concerns are addressed.
The International Finance Corporation praises the pulp and paper company Stora Enso as an industry leader in environmental and social standards, but questions about Stora Enso’s Dutch tax arrangement remain unresolved.
Investments by the World Bank-hosted Global Financing Facility (GFF) do not reflect the family planning priorities identified by developing countries and local communities. The GFF also continues to suffer from a lack of transparency and meaningful civil society participation, raising doubts about the new mechanism’s effectiveness.
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.
In March CAO found a complaint on behalf of communities affected by IFC’s investment in the Alto Maipo hydroelectric project in Chile eligible for further assessment.
The government of Suriname has cancelled its loan programme with the IMF, claiming its conditionalities were too much to bear for its citizens.
CSO ICAR submitted a letter to the World Bank about safeguarding provisions on the use of public and private security personnel. Concerns were raised about the inappropriate use of force and high-risk situations.
Notes from IEG-sponsored citizen's engagement civil society policy forum session - 19 April
Notes of spring meeting session on impact investments, 18 April.
Peruvian CSOs have raised concerns about the development of Peru's Country Partnership Framework in an open letter to the World Bank.
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.
Civil society responds to World Bank president Jim Yong Kim statement on human rights abuses and displacement by calls for the World Bank to suspend funding to Honduras amid continued human rights concerns.