In January, local and international NGOs wrote to the World Bank demanding actions to achieve genuine forest reform in Papua New Guinea (PNG). The World Bank is poised to consider whether it should release the second portion of its Structural Adjustment Loan to PNG and whether it should approve a forest sector loan. These pose an important test for whether the Bank will fulfil its own policies and use funds provided by its member nations and their citizens in a responsible way.
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.