Ballroom dancing in Bolivia: IFC investments remain questionable
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Article summary
IFC invests in another five-star hotel, raising further questions whether its investments lead to positive development outcomes.
We have previously explored the World Bank’s private sector arm, the International finance corporation’s (IFC) long list of investments that have had weak links to development outcomes, such as 5-star hotels, shopping malls and long-shelf-life croissants (see Bulletin Feb 2014, Dec 2013). The IFC continues to back projects with little pro-poor focus, calling into question it’s targeting of extreme poverty.
2) Creation of jobs during construction and operational phase
3) Generation of downstream and upstream local supply linkages with the rest of the economy
4) Increased direct tax revenues by the government
5) Improved environmental and social performance, including green building/energy efficient standards
