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.
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.
New edition of the Bretton Woods Project's biannual Climate Investment Fund (CIFs) Monitor, published to coincide with the World Bank-hosted CIFs trust fund committee meetings.
The rationale for adding new pilot countries to the Forest Investment Program (FIP) given funding constraints has been questioned, as well as the focus on providing loans rather than grants. The CIF strategic directions paper noted challenges for the FIP, and proposed a new private sector window. Questions were raised about the consultation of ethnic minorities in relation to a Laos project.
Six new countries were invited to join the Forest Investment Program (FIP), with a further nine invited to develop investment plans, despite insufficient funds. Potential support for oil palm plantations in Democratic Republic of Congo and industrial logging in Indonesia and Peru were questioned.
A leaked copy of an evaluation of the Bank's forest strategy criticises the Bank's failure to address social and environmental goals. Further criticism has also been raised over the Bank's Forest Carbon Partnership Facility (FCPF).
The Bank's latest carbon reduction credentials are offset against the institution's continued funding for large-scale, grid-based energy sector loans.
A confidential World Bank memo dated September 2005 finds that three of the Democratic Republic of Congo’s biggest mining contracts were approved with “a complete lack of transparency”.
The ongoing rehabilitation of the Inga dams in the Democratic Republic of the Congo, which receives financial assistance from the World Bank, will be delayed for three years.
The findings of an Inspection Panel investigation into the Bank's failure to comply with its own safeguard policies in its support for forest sector reforms in the Democratic Republic of Congo (DRC) was discussed by the board in January
the IFC has offloaded its 3.35 per cent equity stake, worth up to $7.5 million in the Singapore-based global commodities trader, Olam International
Minutes of meeting
NGOs have called on the Bank to investigate two mining contracts between the Democratic Republic of Congo's state mining company and two British Virgin Island-based companies.
A preliminary investigation by the Inspection Panel has reveled serious concerns about Bank programmes to develop the rainforests of the Democratic Republic of Congo.
The independent audit of the Compliance Advisor Ombudsman was made public in February.