In late November 2013, the World Bank board discussed a concept paper for a review of the Program-for-Results (PforR) lending window, a results-based financing mechanism agreed in January 2012 (see Update 79, 77). At the time of approval, the Bank promised a cap of 5 per cent of total funding commitments and a “rigorous” review after two years to respond to civil society criticism about the lack of applicability of the Bank’s safeguards and developing countries’ need for upfront financing. According to the Bank: “the review aims to assess the early experience with the design and implementation of PforR operations and to identify early lessons and recommendations.” The review, being run internally by the operations policies and country services department, will include: literature and desk reviews; surveys of Bank and country officials; interviews with Bank staff, country officials and “other stakeholder groups that have been directly involved in the PforR dialogue”; and “consultations with key stakeholders”. According to the Bank’s website: “the schedule for consultations will be posted by the end of February 2014.” The review is expected to be discussed with the board by July.
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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