The World Bank’s proposed new private sector development strategy is criticised in a response from Public Services International Research Unit (PSIRU). PSIRU argues that it “effectively erodes the position of the state in developing countries in favour of the global private sector”. PSIRU fears that “World Bank loans for public service infrastructure would effectively be tied to compulsory privatisation” favouring financing for multinationals in sectors such as water and electricity. The Bank is due to agree its new strategy in mid-November.
Review maintains inadequate and inconsistent approach to economic and gender inequality, as well as climate change.
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