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.
Notes on the IFC's new approach to measuring development impact at the Civil Society Policy Forum 2017, 10 October.
IFC investments through financial intermediary investments linked to land grabs and displacement in Africa. CSOs critique proposed changes to IFC lending policies.
World Bank unveils cascade concept that privileges private over public finance. De-risking in order to attract private sector investments threatens to shift risks to public sector and result in third wave of privatisation.
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.
CSOs have refused to participate in a World Bank PPP consultation until transparency and accountability concerns are addressed.
CAO report validates 2013 complaint by Indian NGOs on IFC investment in colonial tea plantation in Assam. The IFC's action plan is very limited in scope.
Report finds Development Finance Institutions (DFIs) are not doing enough to eliminate the risk of public money being complicit in tax avoidance schemes.