In December, Paul Wolfowitz announced that Bank-funded public infrastructure projects will respect core International Labour Organisation (ILO) standards. This will cover some $8 billion worth of project investment annually. The private sector lending arm, the IFC, had already committed to follow the ILO core standards in May 2006. Although a welcome step, it does not address all the criticisms of the Bank with respect to labour standards (see Update 53) including the way in which labour standards are neglected in the Bank’s annual Doing Business reports.
Bank embraces labour standards
31 January 2007