Originally created to help the poor escape poverty and deprivation, the World Bank became the most important advocate for the commercialised microcredit model. Yet, critics argued it undermined the chances of sustainable and equitable development to create a poverty trap of historic proportions.
World Bank launches new We-Fi fund for women entrepeneurs, but concerns raised that fund won't reach poorest women.
Indian fishing communities and farmers will ask the highest court in the US to rule on IFC's immunity for its role in the controversial Tata Mundra coal-fired power plant in India.
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.
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.
The World Bank is set to reappoint president Jim Yong Kim for another five year term, despite persistent concerns from Bank staff and renewed calls for a merit-based process based on principles of transparency and diversity.
Further concerns have been raised over dilutions of the World Bank’s proposed new safeguards framework, as controversy arose over a Bank waiver of the indigenous peoples policy for a Tanzania project.
World Bank updates the International Poverty Line and claims a continued decrease in numbers of poor, but long-standing questions about the methodology used and whether the instrument is fit for purpose persist.
The World Bank and the IMF will be meeting in Washington DC for the spring meetings 15-17 April 2016.
This briefing provides an overview of the immunity of international organisations in US law, looking at a lawsuit brought against the IFC regarding the Tata Mundra coal power plant in India.
This Inside the Institutions examines the recent and ongoing reforms at the IMF and World Bank, and places them in context of existing structures and processes.
This briefing notes that recent reforms to the IMF and World Bank governance and the establishment of new Southern-led IFIs are symbolically important, however, they are thus far not a rupture with the Western-dominated international financial architecture.