The moratorium on issuing new logging concessions in Papua New Guinea is possibly under threat. NGOs and others argue that the moratorium should be retained for forest sector reform efforts to be effective from a socio-economic perspective. There are concerns that the World Bank is backsliding on its support for the moratorium. NGO demands will be circulated ahead of the Bank Board’s discussions of a new PNG forest sector loan scheduled for January.
World Bank & IMF in the news
Despite the World Bank’s commitment to move away from funding coal, a series of loopholes in its financial intermediary lending remain that will continue to allow finance to support coal power projects.