The UK House of Commons International Development Committee (IDC) has expressed concerns that “when bidding for infrastructure projects, local contractors often do not stand a chance against international bidders, partly due to rigid rules used by multilateral development banks (MDBs) such as the European Union (EU) and the World Bank.” The IDC’s September report calls on the UK Department for International Development to use its leverage to ensure that the World Bank builds “capacity within developing country government procurement processes ”, arguing that procurement of goods and services can reduce poverty by providing local firms with contracts and boosting local employment.
7 October 2011
It is time for the IMF and World Bank to understand their own responsibility and decolonise their approach.
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The Bretton Woods Project is a UK-based NGO that challenges the World Bank and IMF and promotes alternative approaches. We serve as an information provider, watchdog, networker and advocate. Our flagship publications are the Bretton Woods Observer, a quarterly critical review of developments at the World Bank and IMF, the Dispatch, a biannual analysis of the World Bank and IMF Spring and Annual Meetings, and the NewsLens, a bi-weekly roundup of key news and critical viewpoints published about the World Bank and IMF.
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