In April the Independent Evaluation Group (IEG), the Bank’s arms-length evaluation body, released a critical report assessing Bank operations in East Timor from 2000 to 2010. It asserts that the Bank partly failed to relaunch Timorese education and medical sectors and also reveals that it urged the fragile post-conflict country to save a large part of its petroleum revenues rather than spend them on social projects. The report states that poverty “rose significantly through most of the evaluation period and declined only after 2007, when the government, against bank advice, increased its spending using petroleum resources.”
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.
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