The ongoing rehabilitation of the Inga dams in the Democratic Republic of the Congo, which receives financial assistance from the World Bank, will be delayed for three years. The Bank’s specialist says, “It was supposed to be completed by 2013 so now the World Bank is going to its board to request an extension and additional finance.” The delay is a result of poor background studies, implementation problems and the impacts of the global financial crisis, the Bank has acknowledged. This leaves greater doubts about the soundness of the plans for the controversial Grand Inga dam (see Update 67).
World Bank & IMF in the news
EarthRights International examines how the Jam v. IFC case has helped to shift the landscape of accountability for international financial institutions by successfully challenging their claim to “absolute” immunity in US courts, potentially opening IFC up to further legal challenges in future.