15 December 1999
In September the World Bank produced a new private sector development strategy. The Bank Group will reorganise itself internally to achieve this: merging some IFC and World Bank units. Some NGOs have raised concerns that this may cause conflicts of interest, with the same units advising governments on regulations as well as investing in companies operating in that sector.
At the 80th anniversary of the World Bank and IMF, global civil society must maintain pressure on the Brazilian and South African G20 presidencies to ensure the forth Financing for Development Conference in 2025 results in urgently required international financial architecture reform.
Multilateral development banks can reduce their dependence on hard currency lending and make local currency financing a central element of their developmental mandate.
