In August, about 100 civil society organisations, most based in the Niger Delta, halted a consultation with Peter Woicke, Executive Vice President of the International Finance Corporation (IFC). They were responding to his failure to make a clear response to their demands for a one year moratorium on the implementation of the IFC/Shell sponsored “Niger Delta Contractor Revolving Credit Facility” project. The groups were demanding the moratorium to allow time for real and transparent consultation with communities.
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.