The World Bank said in late February that it would not guarantee the billion-dollar Nam Theun II dam in Laos until the government commits itself to significant political and economic reforms. World Bank Vice President for East Asia and the Pacific Jean-Michel Severino said “It is important that the government has a good understanding of the conditions which will make the project technically, economically, politically, and ecologically sustainable,” Severino is quoted as saying. “We can’t commit ourselves on global risk without acceptable macroeconomic conditions being in place.”
World Bank & IMF in the news
Joint civil society briefing paper highlights concerns with the World Bank’s Evolution Roadmap, and provides a series of recommendations for a Roadmap that prioritises people, participation and the planet over profit and economic growth.