IFI governance

Background

Big Shift: How can the Development Banks align with the Paris Agreement?

18 April 2018 | Minutes

Panel participants from left to right: Nezir Sinani, BIC Europe; Helena Wright, E3G; Jason Allford, Australian ED to the World Bank; and John Roome, WBG Senior Director, Climate Change.

Panellists:

  • Jason Allford (Australian Executive Director [ED], World Bank) (Moderator)
  • Helena Wright (Senior Policy Advisor, E3G)
  • Nezir Sinani (Director, Bank Information Centre Europe)
  • John Roome (Senior Director, Climate Change Global Practice, World Bank)
  • Juan Pablo Bonilla (Manager of the Climate Change and Sustainable Development Sector, Inter-American Development Bank)

Session summary:

Multilateral Development Banks (MDBs) have a vital role in supporting member countries to meet the agreed goals under the Paris Agreement on climate change. How can they align their activities and shift investment from fossil fuels to clean energy? This event will present the latest research and case studies. This event was co-sponsored by E3G, Bank Information Center Europe, Christian Aid and Urgewald.

Jason Allford, Australian ED to World Bank: Climate change is a political issue. There are tensions within the World Bank’s Board on this issue, and the differences in position are evident in my constituency, where I represent Australia, which has been slow in implementing the Paris Agreement, along with ten of the Pacific Island Countries, who are at the front lines of climate change impacts including sea level rise.

Helena Wright, E3G: A new report which will be published in May, entitled ‘Banking on Reform: Alignment of the Multilateral Development Banks and the Paris Climate Agreement’,  ranks MDBs across a number of areas, in terms of how they are aligning themselves with the Paris Agreement.

Here are some of the preliminary findings:

  • MDBs are in a really catalytic position for achieving global climate goals. Yet, across the MDBs, climate finance has hardly increased over the period FY13-FY16, and funding for fossil fuels continues. This was particularly discouraging as many of these fossil fuel projects were approved in the wake of the Paris Agreement.
  • Energy finance: According to the figures reported to the OECD, ‘green’ energy finance (renewables) versus ‘brown’ (fossil fuel) finance ratios across the major MDBs vary. For the WBG, there was 1.1-1.0 ratio for 2015-16. There are some issues with how data is reported to the OECD, which reflects larger challenges of accounting for climate finance).
  • Greenhouse gas accounting in the MDBs:  All the MDBs included in the scorecard are adopting this, to differing degrees.
  • Shadow carbon pricing: again these approaches vary across the MDBs. Recently WBG has committed to aligning its internal carbon pricing with internationally agreed best practice.
  • Support for developing countries’ Nationally Determined Contributions (NDCs) to the Paris Agreement: All the MDBs provide some level of support. The Inter-American Development bank (IADB) has an example of best practice, which is its NDC Invest programme.
  • Green bonds: another area most MDBs are active in. The World Bank Group, including the International Finance Corporation, has been active in growing the green bonds market over the past decade.
  • Potentially transformational case studies: These include IFC’s EDGE programme,  which is a no cost assessment tool for green buildings.
  • Where MDBs are leading and where they’re lagging behind: For IADB – it’s supporting countries with deep decarbonisation, but doesn’t currently have an internal shadow carbon price. For WBG: only MDB to rule out ‘upstream oil and gas finance’, but still has largest fossil finance portfolio across major MDBs.
  • Lack of data in some areas: for example, there is little information about how much climate finance is going to forests, across all MDBs.
  • Recommendations for WBG: Should consider updating energy strategy to reflect recent climate commitments; ensure GHG incorporates best practices; long-term 2050 planning (NDCs under Paris don’t get us to where we need to be under Paris Agreement).

Nezir Sinani, Bank Information Center Europe: As John Roome will likely talk about in a bit, the World Bank is doing a lot of good things on climate change. But in this presentation, I am going to look at how fossil fuels are being financed by the World Bank indirectly, and discuss the ways that this is occurring.

Financial intermediaries (FIs): Case study – the Philippines. There is currently a case under investigation by the IFC’s Compliance Advisor Ombudsman (CAO), stemming from a complaint filed in October. The CAO has accepted the case of 11 communities who say they are negatively affected by new coal power plants. IFC provided equity investment to commercial banks in the Philippines, who then provided finance for these coal plants. This is the first complaint to the CAO that specifically cites climate change as one of the reasons for the complaint.

The IFC have reduced high risk FI lending cases from 18 to 5. But there are too many remaining fault lines where we haven’t been able to find common ground:

  •  IFC argues that when they invest in a bank, they can’t help it if that bank then invests in coal if it’s part of the country’s energy mix. IFC says: “As Financial Institutions’ portfolios reflect the economic activities of the countries they operate in, many financial institutions continue to finance assets such as coal plants.… For example, in the Philippines, coal accounts for 45% of the energy supply and is part of the national energy strategy.” This line of thinking suggests that when the IFC invests in a bank, it lingers in the background, hardly altering a bank’s behaviour.
  • Yet RCBC’s (the FI in the Philippines link to CAO complaint) track record plainly shows otherwise. In fact, under the IFC’s watch, RCBC tripled its investment in coal, helping to kick-start the coal expansion in the Philippines. IFC must use its influence to shift banks towards renewables and away from fossils. It’s not enough to fund renewables with one hand, while still lending to fossils with the other.
  • Coal exposure tracking: as with the vast majority of the FI portfolio, there is close to zero transparency around where investments end up. We can only reveal the shocking stats on coal because of access to expensive market databases like Thomson Reuters and Bloomberg.
  • IFC must insist that borrowers disclose at a minimum the name, sector and location of sub-projects they invest in. That way civil society and affected communities can track whether IFC is truly changing its behaviour and backing out of fossils. IFC argues that it can’t be done, saying, “Portfolio-wide, client-level disclosure is not standard practice by financial institutions in developed markets, and will be challenging to institute in emerging markets.” But that’s not the case. Right here in the US, the American EXIM – OPIC – also lends to financial intermediaries. OPIC currently releases subproject information, such as sector, location and amount regardless of whether the client is a bank or a fund – so IFC can and should do the same.

We want IFC to lead in its FI investments, not follow from the background. IFC must insist that borrowers disclose projects publically, so that affected communities can raise concerns while the project is in the proposal phase. Currently, in order for CSOs to get access to this information, we have to subscribe to databases like Bloomberg’s investments database, which costs $30,000 a year.

Development Policy Loans (DPLs): the Bank requires ‘prior actions’ (regulatory changes) before countries can take out these loans, which provide them with general budget support. In our research on four DPLs in Mozambique, Indonesia, Peru and Egypt, policy reforms that encouraged public-private partnerships directly benefitted the fossil fuels industry after these laws came into place. These are effectively fossil fuels subsidies, and we want the Bank to look at who benefits from these types of regulatory changes.

John Roome, Senior Director, Climate Change, WBG: Addressing climate change is fundamental to the WBG’s twin goals of achieving shared prosperity and ending extreme poverty: it will hit poor the hardest. The recently published Groundswell report by the World Bank suggested that 140 million people in developing countries could be forced to undertake internal migration by 2050, without significant interventions.

We’re making progress on climate action. The Bank is on track to meet climate-related finance targets under the 2016-2020 Climate Change Action Plan, which calls for 28 per cent of our investments to be climate-related by 2020. We’ll be announcing updated climate targets at COP24 in Poland later this year, where we will give a transparent update on progress. We’re working with a number of countries on their NDCs (Nationally Determined Contributions to the Paris Agreement), although we’re not currently publishing what we’re doing. We’re also part of multilateral discussions on a partnership strategy for 2050 planning – which considers what the world will look like in 2050, including low-carbon but also climate resilient infrastructure.

In the case of DPLs, we believe that these are actually key to driving climate action. More ‘prior actions’ can be used to drive green growth, and more and more DPLs actually include these types of prior actions.

On leveraging finance, we’re very active in the green bonds market development, and in working with developing countries to launch these bonds.

On alignment with the Paris Agreement, we’re integrating internal carbon pricing into project proposal analysis across the WBG. We’re also working with UNFCCC to validate our greenhouse has (GHG) accounting methodology, which we’ll make public later this year. For the new ESF [the bank’s new Environment and Social Framework safeguards] there is also a requirement to do project-level GHG accounting.

On financial intermediaries (FIs): the WBG does not directly finance any coal power plants since the ESKOM deal [a loan to South Africa in 2010], and made a pledge in December, to phase out finance of ‘upstream’ oil and gas after 2019. We’re also trying to create the market for renewable energy. Neither IFC nor the Bank allows direct financing for coal. Nezir was referring to general financing for FIs, which is not tracked. Having said all that, building strong financial institutions in developing countries is absolutely key, so we have to balance finance for FIs with policies to prevent coal explosure.

On the issue of green-to-brown finance ratios – we need to come together with CSOs on a common basis for this data, as your numbers and ours are quite different.

Juan Pablo Bonilla, Inter-American Development Bank: More important than increasing climate finance is mainstreaming climate action across the institution. We have been working on developing a transversal approach across our different areas of work, in order to mainstream climate action. The role of donors is important. The more you’re able to work with countries to develop transversal approaches, the more impact you can have. The key is to develop transversal approaches that build a bottom up approach.

Adaptation is way more complicated to invest in than mitigation, which is most of our climate finance. Sustainable infrastructure is key; there is a need to work upstream with governments to ensure these projects enter the pipeline. We also need to include factoring in climate risk with adaptation.

On internal carbon pricing: we don’t have an approach, and we’re asking other MDBs and investigating different approaches. But honestly we’re not quite ready; we’re trying to build mainstreaming from the ground up.

Q&A:

Jon Sward, Bretton Woods Project: How are the Bank and IADB currently working with countries on understanding the risks of stranded assets, with respect to planning for a low-carbon transition on the 2050 time horizon.

Christian Donaldson, Oxfam: On FIs, will IFC publically disclose how clients are exposed to coal?

Representative from Young Diplomats of Canada: Is the upstream pledge a double standard in terms of the World Bank cutting off poor countries from a development path that developed countries have used, in terms of being able to access finance to develop their natural resources?

Mongolian CSO: The Bank is doing technical analysis of coal expansion in our country, which will be funded by China.

John Roome: On the upstream pledge, we understand the critique, but ultimately we don’t feel funding ‘upstream’ oil and gas, given the current climate challenges, is a good use of the Bank’s relatively scarce public funds. On Mongolia, I’d be very surprised if the Bank is heavily involved in this. On this issue of FIs disclosure, this is a live discussion but one that goes much broader than merely climate issues, and touches on financial inclusion. So it requires a discussion across different parts of the Bank in order to move forward. We’ve begun analytical work towards planning for 2050. On low-carbon infrastructure and stranded assets: within sectors there is ongoing dialogue with those countries who are dependent on intensive extractive industries about ways to get them on a different pathway.

Juan Pablo Bonilla: Stranded assets and sustainable infrastructure involves a difficult discussion. But it’s very important, especially for long-term planning. The lead of our climate division has been very active in creating awareness, and I think there is very limited knowledge within Central Banks about this issue and so we are working to communicate this.

Jason Allford: On the upstream pledge, developing countries are asking us for helping in adapting to climate change. They want our help with their NDCs, and renewables are now much more competitive, so for the island nations I represent this is much more sustainable than being dependent on importing oil and gas.

 

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4 October 2016 | Minutes

Emerging Lessons from Indigenous Peoples’ Cases

Notes from a side event on emerging lessions from indigenous peoples cases of the Inspection Panel, which took place during the World Bank-IMF 2016 annual meetings.

IFI governance

Background

4 October 2016 | Minutes

CSO roundtable with World Bank Group Executive Directors

Notes from a CSO roundtable with World Bank Group Executive Directors at the IMF/World Bank 2016 annual meetings.

IFI governance

Background

17 April 2016 | Minutes

IMF Fiscal Forum - International Taxation: Opportunities & Risks

IFI governance

Background

17 April 2015 | Minutes

Safeguard policies review

Notes from a meeting on the World Bank safeguards review during the World Bank spring meetings.

IFI governance

Background

17 April 2015 | Minutes

What are the trends in the energy sector?

Notes from a meeting on energy during the World Bank spring meetings.

IFI governance

Background

17 April 2015 | Minutes

Ebola debt relief – Implications and next steps

Notes from a meeting on Ebola during the World Bank spring meetings.

IFI governance

Background

16 April 2015 | Minutes

Development policy financing retrospective: Emerging findings and lessons

Notes from a meeting on the World Bank's Development Policy Finance retrospective during the Word Bank spring meetings.

IFI governance

Background

16 April 2015 | Minutes

Aligning the financial system with sustainable development

Notes from a meeting on the financial system and sustainable development during the World Bank/IMF spring meetings.

IFI governance

Background

11 October 2014

Sovereign debt restructuring: options, obstacles and opportunities

Notes of a meeting on sovereign debt restructuring at the World Bank-IMF annual meetings 2014

IFI governance

Background

11 October 2014

The impact of the BRICS’ Contingent Reserve Arrangement (CRA) and the New Development Bank (NDB)

Notes of a meeting on BRICS’ Contingent Reserve Arrangement (CRA) and the New Development Bank (NDB) at the World Bank-IMF annual meetings 2014

IFI governance

Background

10 October 2014 | Minutes

UK civil society meeting with UK World Bank Executive Director Gwen Hines

Notes of a meeting with World Bank executive director Gwen Hines in October 2014.

IFI governance

Background

10 October 2014

IFC Update on Dinant financing

Notes of an IFC update on Dinant financing at the World Bank-IMF annual meetings 2014

IFI governance

Background

10 October 2014

Discussion with the IFC/MIGA Compliance Advisor Ombudsman (CAO)

Notes of a discussion with the IFC/MIGA Compliance Advisor Ombudsman (CAO) at the World Bank-IMF annual meetings 2014

IFI governance

Background

10 October 2014

From interim strategy to full country partnership: lessons from Myanmar

Notes of a meeting on Myanmar's transition to full country partnership at the World Bank/IMF annual meetings 2014

IFI governance

Background

9 October 2014

Financing for development: What actions are needed on debt and illicit capital flows?

Notes of a meeting on financing for development at the World Bank-IMF annual meetings 2014

IFI governance

Background

9 October 2014

Matching money and expertise: ensuring conflict sensitivity is top of the agenda for the bank's fragile state financing

Notes of a meeting on matching money and expertise at the World Bank-IMF annual meetings 2014

IFI governance

Background

9 October 2014

After SCOTUS: Next steps in sovereign debt restructuring

Notes of a meeting on sovereign debt restructuring after SCOTUS at the World Bank-IMF annual meetings 2014

IFI governance

Background

9 October 2014

IFC lending through financial intermediaries - a year on from the action plan, what have we learned?

Notes of a meeting on IFC lending through financial intermediaries at the World Bank-IMF annual meetings 2014

IFI governance

Background

8 October 2014

Governance and impact report 2014

Notes of a meeting on governance and impact report 2014 at the World Bank-IMF annual meetings 2014

IFI governance

Background

8 October 2014

Comparative analysis of social and environmental safeguards in IFIs

Notes of a meeting on comparative analysis of social and environmental safeguards in IFIs at the World Bank-IMF annual meetings 2014

IFI governance

Background

8 October 2014

Emerging markets in transition: growth prospects and challenges

Notes of a meeting on emerging markets in transition at the World Bank-IMF annual meetings 2014

IFI governance

Background

8 October 2014

Making PPPs work

Notes of a meeting on how to make PPPs work at the World Bank-IMF annual meetings 2014

IFI governance

Background

7 October 2014

CSO roundtable with Executive Directors

Notes of CSO roundtable with Executive Directors at the World Bank-IMF annual meetings 2014

IFI governance

Background

7 October 2014

CSO land rights and resettlement

Notes of a meeting with CSOs on land rights and resettlement at the World Bank-IMF annual meetings 2014

Conditionality

Background

22 April 2014 | Minutes

Reforming IMF conditionality. Where do we stand?

IFI governance

Background

12 April 2014

An overview of the World Bank Group's new country engagement model

Conditionality

Background

12 April 2014

IMF recommendations to Arab countries in transition: Challenges & prospects

Finance

Background

11 April 2014

Financial tremors in developing countries: is another earthquake on the way?

IFI governance

Background

11 April 2014

What does real accountability mean in practice?

IFI governance

Background

9 April 2014

Mega-project mania?

IFI governance

Background

23 January 2014 | Resource

Recommended resources on the World Bank and IMF 2013

The best papers, books and electronic resources on the World Bank and IMF from 2013.

Rights

Background

14 October 2013 | Minutes

Review and update of the World Bank’s safeguard policies

Minutes from a side event with the World Bank safeguards team presenting an update on the review process during the World Bank/IMF annual meetings 2013.

IFI governance

Background

13 October 2013 | Minutes

Meeting president Kim’s pledge of “no dilution” for safeguards

Minutes of a civil society meeting on upward harmonisation of World Bank safeguards during the World Bank/IMF annual meetings 2013.

IFI governance

Background

13 October 2013 | Minutes

Continuing conversations with CAO

Minutes from a CAO sponsored event during the 2013 World Bank/IMF annual meetings.

IFI governance

Background

13 October 2013 | Minutes

World Bank Group strategy and reform process

Minutes from a World Bank sponsored event on the new World Bank Group strategy during the 2013 WB/IMF annual meetings.

IFI governance

Background

13 October 2013 | Minutes

Why the Bank and Fund provide too little debt relief too late – and what can be done about it

Expert panelists discuss the need for comprehensive and automatic debt restructuring mechanisms, at the Annual Meetings 2013 civil society forum

IFI governance

Background

13 October 2013 | Minutes

Is the European recovery finally under way?

CEPR event at the 2013 civil society forum on whether a recovery is under way in Europe; held as a debate between Prakash Loungani of the IMF's research department and Mark Weisbrot, CEPR co-director.

IFI governance

Background

13 October 2013 | Minutes

Subsidy reform in Arab countries: Reflection on IMF recommendations

New America Foundation civil society event on subsidy reform in Arab countries, held in the civil society forum of the 2013 IMF/World Bank annual meetings

IFI governance

Background

12 October 2013 | Minutes

Austerity and Inequality in Europe

Minutes from Oxfam-hosted civil society seminar at 2013 Annual meetings on European austerity and inequality

IFI governance

Background

10 October 2013 | Minutes

IMF consultation: CSO views on fiscal transparency policy

Minutes of an IMF consultation on fiscal transparency policy

IFI governance

Background

25 April 2013 | Minutes

Doing Business at the crossroads: ten years

Spring meetings side event hosted by the Center for Strategic and International Studies on 19 April 2013

Infrastructure

Background

23 April 2013 | Minutes

Colombia case study: results measurement and poverty eradication

This session examined Colombia's private sector partnerships and poverty eradication programme.

IFI governance

Background

23 April 2013 | Minutes

The private sector and poverty eradication

This session gave an overview on the links between private sector and healthcare provision in tackling poverty.

Accountability

Background

22 April 2013 | Minutes

Bending the arc of poverty

The session focused on the World Bank's development strategy, poverty eradication goals, global inequality, and the threat of climate change.

Accountability

Background

22 April 2013 | Minutes

Financial and housing crises, the Bank's safeguards and the right to adequate housing

This session featured a presentation from UN special rapporteur on the links between financial and housing crises, safeguards and the right to adequate housing.

Accountability

Background

22 April 2013 | Minutes

The challenges of advancing sustainability at the World Bank

This panel discussion reflected on the major sustainability challenges facing the World Bank through exploring two World Resources Institute areas - a portfolio analysis on 2012 projects, and the interaction between country systems and World Bank safeguard approaches.

IFI governance

Background

22 April 2013 | Minutes

From the Arab revolutions to global austerity trends

This session examined issues thrown up by the Arab revolutions, including the fiscal, monetary, tax and investment policies being considered by governments facilitating, or hindering countries in the Arab and other regions in building an inclusive economy and supporting socioeconomic recovery, the impact on public expenditure for the strengthening of education, health, and other social sectors as well as the management of chronic and high unemployment and high food and fuel prices.

IFI governance

Background

18 April 2013 | Minutes

After recent court decisions: how can sovereign debt workouts become fair, comprehensive and account

This session examines the challenges which recent court decisions pose to sovereign debt workouts that allow for burden-sharing and take into account the social development needs of debtor countries.

Knowledge

Background

18 April 2013 | Minutes

Frameworks to support IMF policy advice to low-income countries

This event examined financial Sector Surveillance in Low Income Countries - Financial Deepening and Macro-stability Financial Deepening and Macro-Stability

Accountability

Background

18 February 2013 | Minutes

UK Civil Society Meeting with Minister of State Rt Hon Alan Duncan MP

This was a meeting on 1 October 2012, between the Minister of State of the UK's Department for International Development (DFID) and civil society representatives, focusing on the World Bank.

IFI governance

Background

13 October 2012 | Minutes

World Bank Inspection Panel at 19: Some Lessons for Safeguard Policy

This panel discussion centered on the possible policy lessons for the Safeguard Review of learning from the emblematic or most frequently registered cases of non-compliance with Bank safeguard policies, particularly project supervision, environmental assessment, and involuntary resettlement.

IFI governance

Background

13 October 2012 | Minutes

Think tanks: promoting local solutions, influencing global thinking

This session brought together representatives of three leading policy research organizations from Bangladesh, Tanzania and Ecuador, to share their experiences and analysis of the potential of think tanks to promote local solutions and influence global thinking.

Infrastructure

Background

13 October 2012 | Minutes

Post Fukushima: The Role of the Financial Sector in Energy Future

This session introduced the audience to an overview of global energy issues and specific analyses of the environment and economic impacts of Fukushima nuclear power accident, and discussed the roles of the financial sector in viable global energy future.

Accountability

Background

12 October 2012 | Minutes

Doing business report rankings

This session will bring together experts from labour, development and business organizations to highlight issues and perspectives that need to be part of the review of these influential rankings.

Accountability

Background

12 October 2012 | Minutes

IMF consultation meeting on engagement with civil society: review and way forward

This session sought to gather CSO views, suggestions, and concerns on how to improve the current guidelines, including IMF consultation processes on policies, strategies, and Article. IV consultations

IFI governance

Background

12 October 2012 | Minutes

Citizen-Led Accountability at the World Bank Group: experiences of independent recourse mechanisms

This session aimed to gather CSO views, suggestions, and concerns on how to improve the current guidelines, including IMF consultation processes on policies, strategies, and Art. IV consultations.

IFI governance

Background

12 October 2012 | Minutes

Facilitating international adjustment through timely debt resolution

This session highlighted the perspectives of finance ministers, policy makers, and academics on the need to ensure timely, effective international adjustment in a manner consistent with sustained global growth and continued adherence to the system of open, dynamic international trade and payments constructed over the past 65 years.

Rights

Background

12 October 2012 | Minutes

World Bank safeguard review and CSOs approaches in their engagement

Interaction between the Bank and CSOs on the approach paper through this panel provided an opportunity for the Bank and CSOs to highlight areas of importance and provide input about the direction of the safeguard review.

IFI governance

Background

11 October 2012 | Minutes

The Role of the Independent Evaluation Group (IEG)

This session provided CSOs with the opportunity to have an exchange with IEG's Director-General and Senior Vice President on the role of the IEG.

Accountability

Background

11 October 2012 | Minutes

Global financial regulations and their Impact on major campaigns

This event was a collegial information-sharing and strategy session to explore the linkages between financial regulations and grass roots campaigns.

IFI governance

Background

11 October 2012 | Minutes

CSO Townhall with Jim Yong Kim and Christine Lagarde

This townhall was for CSO representatives accredited to the Annual Meetings. The CSO Discussants made initial remarks on Fund and Bank policies and were followed by comments from Mr. Kim and Ms. Lagarde. This was then followed by a general discussion on issues of concern to CSO representatives.

IFI governance

Background

11 October 2012 | Minutes

From country systems to DPLs: understanding the World Bank's approach to social and environmental ri

This session will discuss the strengths and weaknesses of the Bank’s approaches with respect to different financial instruments and evaluate the challenges of ensuring coherence in environmental and social sustainability outcomes across instruments.

IFI governance

Background

10 October 2012 | Minutes

Making global governance accountable: civil society experiences with 13 Institutions

This session discussed the conclusions reached on the global governance role of civil society by the Civil Society and Accountable Global Governance project.

Accountability

Background

3 August 2012 | Minutes

IFI re-engagement in Burma

Minutes of Burma and IFIs meeting, Washington DC, 18 April 2012

Accountability

Background

23 April 2012 | Minutes

EIR + 10

Minutes of afternoon sessions of extractives conference, Washington DC, 23 April 2012

IFI governance

Background

23 April 2012 | Minutes

2012 Tokyo Annual Meeting Planning Session

2012 Tokyo Annual Meeting Planning Session held on Saturday, 21 April.

Accountability

Background

21 April 2012 | Minutes

Lessons from IEG's Cluster Review of IFC-supported Extractive Industries Projects

Minutes of IFC and extractives meeting, Washington DC, 21 April 2012

Accountability

Background

21 April 2012 | Minutes

Safeguards in a Changing Landscape

Minutes of safeguards meeting, Washington DC, 21 April 2012

Finance

Background

20 April 2012 | Minutes

How can the IMF enhance its focus on growth and poverty reduction in LICS?

A civil society meeting held at the World Bank and the IMF hold their 2012 spring meetings in Washington DC on Friday 20th April.

IFI governance

Background

20 April 2012 | Minutes

Seminar - Time for a New Consensus: Regulating Financial Flows for Stability and Development

As the World Bank and the IMF hold their 2012 spring meetings in Washington DC this week, Latindadd and the Bretton Woods Project organised a seminar about regulating financial flows on Thursday 19 April.

IFI governance

Background

20 April 2012 | Minutes

Austerity in the Eurozone

Seminar at the Spring meetings 2012, 19 April 12

Infrastructure

Background

20 April 2012 | Minutes

Kosovo's options for a sustainable energy future

Minutes of presentation and discussion on Kosovo's options to develop a sustainable energy future, Washington DC, 20 April 2012.

Infrastructure

Background

20 April 2012 | Minutes

World Bank's Climate Investment Funds 4 years later

Minutes of meeting on the World Bank-housed Climate Investment Funds and the Green Climate Fund, Washington DC, 19 April 2012

Land

Background

20 April 2012 | Minutes

Agriculture and Food Security

Minutes of agriculture and food security meeting, Washington DC, 19 April 2012

Infrastructure

Background

20 April 2012 | Minutes

Climate change, energy access and sustainable development

Minutes of climate change and energy access meeting, Washington DC, 18 April 2012

Accountability

Background

19 April 2012 | Minutes

Supporting Social Accountability for Better Results

Minutes of World Bank Social accountability plenary, Washington DC, 19 April 2012

Accountability

Background

19 April 2012 | Minutes

Development Policy Lending (DPL) Retrospective consultation

Minutes meeting, Washington DC, 18 April 2012

Environment

Background

19 April 2012 | Minutes

IMF Consultation on Natural Resources Management and Taxation

Notes of meeting, Spring meetings 2012, Washington DC

Infrastructure

Background

26 September 2011 | Minutes

India's energy future: Consequences of India's coal rush and alternative energy scenarios

Notes of a panel discussion, Washington DC, 20 September 2011

Infrastructure

Background

26 September 2011 | Minutes

India's energy future: What role for the Bank?

Notes of meeting, Washington DC, September 21, 2011

Knowledge

Background

26 September 2011 | Minutes

Civil Society Strategy Meeting on the Doing Business rankings

Notes of a meeting, Washington DC, 21 September 2011

Environment

Background

26 September 2011 | Minutes

CSO Roundtable with Lars Thunel

Notes of a meeting, Washington DC, 21 September 2011

Environment

Background

26 September 2011 | Minutes

Safeguards and climate finance in Indonesia in the context of REDD+

Notes of meeting, Washington DC, September 23, 2011

Social services

Background

23 September 2011 | Minutes

Seminar - Gender Equality Matters: The Way Forward

Notes of meeting, Washington DC, September 21, 2011

Accountability

Background

23 September 2011 | Minutes

CSO Townhall with Robert Zoellick and Christine Lagarde

Notes of meeting, Washington DC, September 22, 2011

Infrastructure

Background

23 September 2011 | Minutes

Scaling up Climate Finance

Notes of meeting, Washington DC, September 22, 2011

IFI governance

Background

23 September 2011 | Minutes

Financial Transaction Tax implementation

Notes of a meeting, Washington DC, 22 September 2011

Finance

Background

23 September 2011 | Minutes

Real Aid

Notes of a panel discussion, Washington DC, 21 September 2011

Environment

Background

23 September 2011 | Minutes

Plundered nations?

Notes of a meeting, Washington DC, 21 September 2011

Accountability

Background

18 April 2011 | Minutes

Consultation on Program for Results (P4R)

Notes of meeting, Washington DC, April 16, 2011

Rights

Background

18 April 2011 | Minutes

Safeguards consultation, World Bank, 16 April 2011

Summary of consultation held at the World Bank in Washington, 16 April 2011

Accountability

Background

18 April 2011 | Minutes

IFC and Financial Intermediary Lending

Notes of meeting, Washington DC, April 15, 2011

IFI governance

Background

15 April 2011 | Minutes

How the Financial Stability Board Affects Development Prospects: Opening the Black Box

Notes of a meeting held in Washington DC, 15 April 2011

Finance

Background

14 April 2011 | Minutes

IFC's international development goals

IFC staff member discusses plans for goals to guide future work in private sector development.

Land

Background

14 April 2011 | Minutes

The regulation of excessive speculation in commodity markets: what's at stake

Financial experts critically discuss commodity speculation.

IFI governance

Background

13 April 2011 | Minutes

IMF triennial surveillance review

Notes of meeting, Washington DC, April 13, 2011

Finance

Background

13 April 2011 | Minutes

Meeting between the UK IMF Executive Director Alex Gibbs, HM Treasury and UK civil society organisat

Notes of the seminar of spring meetings 2011

Environment

Background

12 October 2010 | Minutes

Energy, Poverty, Sustainability and Climate Change

Minutes of a seminar at the 2010 annual meetings, 8 October 2010

IFI governance

Background

12 October 2010 | Minutes

Held in reserve: can a new approach to monetary policy transform the global economic outlook?

Minutes of an experts seminar held on the sidelines of the 2010 Annual Meetings of the IMF, 7 October 2010

IFI governance

Background

12 October 2010 | Minutes

Investment lending reform

A briefing by World Bank staff on the investment lending reform, 9 October 2010

Knowledge

Background

11 October 2010 | Minutes

Post MDG Summit

Notes of the seminar of annual meetings 2010

IFI governance

Background

11 October 2010 | Minutes

Future of the global financial and monetary system

Notes of the seminar of annual meetings 2010

IFI governance

Background

11 October 2010 | Minutes

Global economic governance

Notes of the seminar of annual meetings 2010

Conditionality

Background

8 October 2010 | Minutes

Civil Society Townhall Meeting with Robert Zoellick and Dominique Strauss-Kahn

Notes of the seminar of annual meetings 2010

Knowledge

Background

7 October 2010 | Minutes

Meeting between the UK IMF Executive Director Alex Gibbs , HM Treasury and UK civil society organisa

Notes of the seminar of annual meetings 2010

IFI governance

Background

29 April 2010 | Minutes

Future of the World Bank: major reforms or a series of minor adjustments?

Civil society event at the World Bank spring meetings 2010, 24 April

Infrastructure

Background

26 April 2010 | Minutes

Launch of Bank Information Center's (BIC's) model energy strategy

Civil society event at the World Bank spring meetings 2010, 24 April

Accountability

Background

26 April 2010 | Minutes

A sustainable World Bank energy strategy: perspectives from various stakeholders

Civil society event at the World Bank spring meetings 2010, 23 April

Accountability

Background

26 April 2010 | Minutes

Evaluation as a critical tool for accountability

Civil society event at the World Bank spring meetings 2010, 23 April

IFI governance

Background

23 April 2010 | Minutes

An IMF for the 21st century - the low-income country perspective

Civil society event at the World Bank spring meetings 2010, 22 April

Environment

Background

23 April 2010 | Minutes

Financing the response to climate change: special drawing rights (SDRs) for climate finance

Civil society event at the World Bank spring meetings 2010, 22 April

Infrastructure

Background

23 April 2010 | Minutes

Governance challenges in financing green and sustainable energy policies

Freidrich-Ebert-Stiftung event at the World Bank spring meetings 2010, 22 April

Infrastructure

Background

23 April 2010 | Minutes

Roundtable on post-crisis economic recovery

World Bank event at the World Bank spring meetings 2010, 22 April

Environment

Background

23 April 2010 | Minutes

World Bank, climate change and climate finance

Civil society event at the World Bank spring meetings 2010, 22 April

IFI governance

Background

9 October 2009 | Minutes

The IMF and protectionist trade policies: What does the record of the past 15 years tell us?

Seminar on the IEo evluation of IMF trade policy advice in Istanbul, 2 October 2009.

IFI governance

Background

8 October 2009 | Minutes

Financial sector policies in the crisis

Programme of Seminars session in Istanbul on 3 October 2009 with Zeti Aziz, Andrew Crockett, Christine Cummings, Sayed Sadeeq, and John Laker.

Environment

Background

8 October 2009 | Minutes

CSO Townhall meeting

Notes from the CSO townhall meeting with Dominique Strauss-Kahn and Robert Zoellick

Accountability

Background

8 October 2009 | Minutes

IMF governance - CSO meeting with the IMF managing director

Minutes of a meeting between civil society organisations, IMF managing director Dominique Strauss-Kahn and IMF deputy managing director John Lipsky

Environment

Background

6 October 2009 | Minutes

Consultation meeting on World Bank environmental strategy

Summary of the first consultation on their new environment strategy, which they will develop next year.

IFI governance

Background

5 October 2009 | Minutes

The impact of financial regulation on developing countries

The impact of financial regulation on developing countries, World Bank Programme of Seminars, with Mingkang Liu, Joseph Stiglitz, and Alvir Hoffman.

Conditionality

Background

5 October 2009 | Minutes

The IMF: Change we can believe in?

The IMF: Change we can believe in? Notes of a civil society meeting in Istanbul. Speakers include Joseph Stiglitz, Andrew Kumbatira, Caroline Atkinson, and Bhumika Muchhala.

IFI governance

Background

5 October 2009 | Minutes

Future of the Global Financial System

Notes of part of a panel debate chaired by Martin Wolf of the Financial Times, Istanbul, 4 October 2009.

Finance

Background

4 October 2009 | Minutes

Report launch: Post-crisis growth in developing countries

Growth commission event in Istanbul.

IFI governance

Background

4 October 2009 | Minutes

The UN conference and the G20 summit

Minutes from The UN conference and the G20 summit, civil society policy forum discussion on 3 October 2009. Istanbul, Turkey

IFI governance

Background

4 October 2009 | Minutes

Critical debate on the World Bank and IMF

Summary of a presentation made by Professor Anwar Shaikh, the New School for Social Research, on "Monetary Policy and the Global Crisis"

IFI governance

Background

4 October 2009 | Minutes

Global economic governance roundtable

Summary of a discussion with German government representatives, Jomo KS of the UN and civil society organisations.

Environment

Background

27 April 2009 | Minutes

The World Bank's programs on forests and climate change

A civil society event organised by World Resources Institute (WRI) at the World Bank spring meetings 2009

IFI governance

Background

27 April 2009 | Minutes

Compliance Advisory Ombudsman review of standards for Bank’s private sector lending

Notes of a session with the CAO at the World Bank spring meetings, Washington, DC, April 22, 2009.

IFI governance

Background

25 April 2009 | Minutes

IMF crisis response- discussion

Notes of a meeting between the IMF and civil society organisations

Environment

Background

13 April 2008 | Minutes

Dialogue with NGOs and Lars Thunell, Executive Vice President and CEO, IFC

Dialogue with NGOs and Lars Thunell, Executive Vice President and CEO, IFC

Environment

Background

11 April 2008 | Minutes

Macroeconomic and fiscal implications of climate change and the policies to address it

A briefing by IMF economists at the spring meetings 2008.

IFI governance

Background

11 April 2008 | Minutes

Briefing on the World Bank's Six Strategic Themes

Minutes of a briefing by World Bank staff on the WBG's six strategic themese

Conditionality

Background

11 April 2008 | Minutes

IMF consultation in advance of the PSI review

Notes of a consultation between IMF staff and NGOs in advance of the PSI review

Social services

Background

10 April 2008 | Minutes

Structural conditionalities in the IMF: A discussion between the IMF, IEO, and CSOs

An upcoming civil society report demonstrates that IMF structural conditionality did not decline in the five years after the approval of the Fund's conditionality guidelines in September 2002, which were based on the principles of ownership and criticality in its application of structural conditionality, as well as to streamlining the number of conditions. Going on seven years, it seems that these guidelines have been more honoured in principle than in practice. A recent Independent Evaluation O

Finance

Background

26 October 2007 | Minutes

Macroeconomic aspects of aid scaling up and the role of the Fund

Highlights of a 21 October discussion on the macroeconomics of aid scaling up at the World Bank-IMF annual meetings 2007.

Conditionality

Background

26 October 2007 | Minutes

Wage bill ceilings, fiscal and monetary policies and absorbing aid inflows - updates and next steps

Highlights of a 20 October discussion on the the IMF's fiscal and monetary policy advice and conditionality for low-income countries at the World Bank-IMF annual meetings 2007.

Accountability

Background

26 October 2007 | Minutes

Rethinking the governance of the IMF

Highlights of a 19 October discussion on the reform of IMF governance at the World Bank-IMF annual meetings 2007.

Accountability

Background

26 October 2007 | Minutes

The role of low-income countries in IFI governance

Highlights of a 19 October discussion on the role of low-income countries in IMF governance at the World Bank-IMF annual meetings 2007.

Conditionality

Background

26 October 2007 | Minutes

The IMF's Policy Support Instrument: more flexibility or continued belt tightening

Highlights of a 21 October discussion on the IMF's Policy Support Instrument (PSI) at the World Bank-IMF annual meetings 2007.

Environment

Background

23 October 2007 | Minutes

Townhall meeting and reception with World Bank and IMF presidents and civil society representatives

Highlights of an 18 October 'town hall' meeting between WB-IMF heads and CSOs.

Environment

Background

23 October 2007 | Minutes

The agenda of the Development Committee and the provision of Global Public Goods

Highlights of a 20 October meeting hosted by the FES Foundation on global public goods, at the World Bank-IMF annual meetings 2007.

Infrastructure

Background

23 October 2007 | Minutes

Climate change and clean energy challenges and opportunities in addressing Africa's growing energy n

Highlights of a meeting at the World Bank-IMF annual meetings 2007.

Infrastructure

Background

23 October 2007 | Minutes

Low carbon, high hopes: making climate action work for development

Highlights of a 19 October meeting at the World Bank-IMF annual meetings 2007.

Environment

Background

5 October 2007 | Minutes

Highlights of BWI-UK network meeting with Douglas Alexander

Highlights of a 4 October meeting between NGOs in the BWI-UK network and secretary of state for international development, Douglas Alexander, addressing IFI strategic reviews, aid effectiveness, clean energy/climate change and a number of other issues.

Conditionality

Background

27 April 2007 | Minutes

IMF macroeconomic policies and the impacts on education budgets and teacher wages

IMF civil society dialogue, spring meetings 2007 (14 April 2007)

Conditionality

Background

27 April 2007 | Minutes

IEO Evaluation of the IMF and Aid to Sub-Saharan Africa

Civil society dialogue, spring meetings 2007 (12 April 2007) on the IEO Evaluation of the IMF and Aid to Sub-Saharan Africa

IFI governance

Background

27 April 2007 | Minutes

European CSO meeting with European IMF EDs

Incomplete minutes of European CSO meeting with European IMF EDs, 13 April 2007

Conditionality

Background

20 April 2007 | Minutes

Fiscal space and fiscal priorities: Infrastructure, trade and poverty

This panel discussion addressed the pros and cons of fiscal space for infrastructure when infrastructure is trade-related, what they mean for current proposals by the World Bank and IMF on fiscal space, and the importance of an assessment that looks jointly at the trade and financial aspects on the grounds of poverty reduction, development and environment goals.

Conditionality

Background

19 April 2007 | Minutes

Sub-Saharan Africa: Outlook and Challenges

Sub-Saharan Africa: Outlook and Challenges; IMF-civil society dialogue, 13 April 2007

IFI governance

Background

26 October 2006 | Minutes

Highlights of Hilary Benn meeting with UK NGOs

Highlights of semi-annual meeting between UK Secretary of State for International Development and UK NGOs. Topics covered include CSO access to annual meetings, conditionality, anti-corruption, odious debt, clean energy, education in LICUS, bank internal governance, IFC safeguards

IFI governance

Background

26 September 2006 | Minutes

Highlights of Tom Scholar meeting with UK NGOs

Highlights of quarterly meeting between UK executive director to the World Bank and IMF and UK NGOs. Topics covered include CSO access to annual meetings, IMF strategic review, conditionality, anti-corruption and education.

IFI governance

Background

28 June 2006 | Minutes

Highlights of Tom Scholar meeting with UK NGOs, Monday 26 June 2006

Highlights of Tom Scholar meeting with UK NGOs, Monday 26 June 2006

IFI governance

Background

9 May 2006 | Minutes

Policy issues in scaling up of aid flows

Highlights of a spring meetings dialogue hosted by the IMF on scaling-up aid, where senior Fund staff Peter Heller walked out.

Social services

Background

28 April 2006 | Minutes

Evaluating the impact of the PRGF: The cases of Ethiopia, Malawi, Tanzania and Zambia

Highlights of a civil society dialogue on the IMF Poverty Reduction and Growth Facility, at the World Bank spring meetings in Washington, 20 April 2006.

Infrastructure

Background

27 April 2006 | Minutes

World Bank dialogue on the clean energy investment framework

Highlights of a World Bank-organised dialogue on its new clean energy investment framework at the spring meetings in Washington, 24 April 2006.

IFI governance

Background

25 April 2006 | Minutes

Briefing on the implementation of new IFC performance standards

Briefing on the implementation of new IFC performance standards at the World Bank-IMF spring meetings in Washington, 20 April 2006.

Conditionality

Background

25 April 2006 | Minutes

Dialogue on national development strategies and the Millennium Development Goals

Dialogue on national development strategies and the Millennium Development Goals at the World Bank-IMF spring meetings in Washington, 20 April 2006.

Finance

Background

25 April 2006 | Minutes

Dialogue on Fund role in middle-income countries

Dialogue on Fund role in middle-income countries at the World Bank-IMF spring meetings in Washington, Thursday 20 April.

IFI governance

Background

6 October 2004 | Minutes

Grants or Loans? The Full Debate

The session considered the arguments surrounding the provision of grants or loans by IDA. It considered the recent call by President Bush for the World Bank and other development banks to provide more of their funds to the poorest countries as grants, in recognition of the pivotal role that grants play in providing prudent financing for pressing development needs.

IFI governance

Background

4 October 2004 | Minutes

CSO meeting with European Executive Directors

Note from meeting in Washington between European IFI network and European EDs as part of the civil society programme of the World Bank and IMF Annual Meetings 04.

Latest articles on this issue

Managing Director Kristalina Georgieva clasps hands with World Bank President Ajay Banga at the Global Sovereign Debt Roundtable during the 2024 Annual Meetings of the World Bank Group and International Monetary Fund in Washington, DC, on 23 October 2024. Credit: IMF Photo/Allison Shelley

IFI governance

Analysis

Annual Meetings 2024 Wrap-up - Don’t look back: BWIs plough down path of reforms lacking evidence and willingness to engage with broader UN-led reform processes

The 2024 World Bank and IMF Annual Meetings, taking place in the context of the institutions’ 80th anniversary, offered little substantive reform despite multiple ongoing organisational processes and reviews.

30 October 2024
October 25, 2024 - Washington, D.C. | Participants of the 2024 IMF/World Bank Group Annual Meetings’ Development Committee: Mohamed bin Hadi Al Hussaini, Ajay Banga, Kristalina Georgieva, and Mercy Tembon. Photo: Simone McCourtie / World Bank (via Flickr).

IFI governance

Analysis

Development Committee chair’s statement analysis Annual Meetings 2024: compounding crises expose the World Bank’s role in structural failures but limit scope for reform

Despite Development Committee’s call for increased development impact amidst compounding crises, persistent geopolitical fragmentation constrains the critical reforms needed to address structural failures.

29 October 2024

IFI governance

Analysis

G20 communiqué analysis Annual Meetings 2024: progress on tax and inequality obscures Group's wider failures

At the 25th anniversary of the Group’s Finance Track, the G20 communiqué’s robust language on the taxation of billionaires, including encouraging “constructive discussions” about the UN Tax Conference was contrasted by much more cautious language on MDB reform, climate finance, debt and Special Drawing Rights.

29 October 2024

IFI governance

Analysis

G24 communiqué analysis Annual Meetings 2024: calls for robust multilateral response to mounting risk and global crises

G24 calls for robust multilateral response to debt, development and climate crises, arguing the IMF and World Bank must continue reform in order to maintain legitimacy and fulfil their mandate.

29 October 2024

IFI governance

Analysis

IMFC chair’s statement analysis Annual Meetings 2024: a fiscal consolidation “pivot” as IMF struggles to get its house in order

Chair’s statement calls for a ‘pivot’ to fiscal consolidation and announces possible approaches to guide further quota realignment by June 2025. In contrast, China’s statement calls for work to begin on alignment even without resolution of 16th quota review.

29 October 2024

IFI governance

Analysis

V20 communiqué analysis Annual Meetings 2024: climate vulnerable countries once again demand key changes to IMF’s approach, as world risks breaching climate tipping points

V20 members offered a searing indictment of rich countries’ failure to act on BWIs governance, debt relief, climate finance and SDRs.

29 October 2024

IFI governance

Background

Arab voices for sustainable development financing: rights-based approaches to addressing the debt tax-climate crises

Notes from the Civil Society Policy Forum on 24th October 2024 titled Arab Voices for Sustainable Development Financing: Rights-Based Approaches to Addressing the Debt Tax-Climate Crises.

24 October 2024 | Minutes

IFI governance

Background

Problematising the Bank’s reliance on financial inclusion, from the gender strategy to the corporate scorecard

Notes from a Civil Society Policy Forum panel on 22 October titled ‘Problematising the Bank’s Reliance on Financial Inclusion, from the Gender Strategy to the Corporate Scorecard’.

22 October 2024 | Minutes
World Bank President Ajay Banga, speaks at an event titled Transforming Challenge into Action: Expanding Health Coverage for All, at the WBG & IMF Spring Meetings, 18 April 2024, Washington DC. Credit: Grant Ellis / World Bank

IFI governance

Analysis

Annual Meetings 2024 Preamble: BWIs’ management and key shareholders stand in the way of transformative governance reforms despite ‘evolution’ rhetoric

Unconvincing World Bank Evolution Roadmap reforms and IMF’s struggle to mainstream climate and gender symptomatic of wider malaise.

17 October 2024

IFI governance

Analysis

G20 press conference analysis Spring Meetings 2024: Concrete actions fail to materialise despite strong Brazilian push

In the absence of a G20 Communiqué or Chair statement, Brazilian minister of finance, head of the central bank and other senior officials took questions at a short press conference, with discussion focused on the impact of continued restrictive US monetary policy on the global debt and development finance and the need for more responsive and better capitalised MDBs.

24 April 2024