The World Bank Campaign Europe in conjunction with the Permanent Peoples’ Tribunal held a public hearing on the World Bank in October (see Update 57). A new video presents the testimonies revealing what happens to people and the environment as a result of economic policy conditions attached to World Bank loans and Bank-financed oil and gas projects. Cases examined in detail include: mining law reform in Peru; agricultural market liberalisation in Malawi; the Karachaganak oil field in Kazakhstan; cotton market liberalisation in Mali; electricity privatisation in Nicaragua; and the West Africa Gas Pipeline. The DVD is in English, French and Spanish, with subtitles in English, German, Spanish, French, Dutch and Italian. Free copies are available from co-organisers Friends of the Earth International.
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.