The Bretton Woods Project's review of the most important developments at the World Bank and IMF in 2016.
Analysis
Conditionality
Analysis
Egypt’s new IMF deal comes with a huge price tag for human rights
After 4 years of on-off negotiation and public opposition, the government of Egypt has signed a loan deal with the IMF whose impacts civil society fears will encroach upon human rights, social protection and social provision, like health and education, upon which the poorest depend.
Environment
Analysis
Behind the fumes: the dirty truth behind the World Bank’s commitments on climate change
New report provides evidence that IFC investments in financial intermediaries (FIs) support the construction of coal power plants in contradiction to World Bank policy and IFC statements that FI lending is ring-fenced and does not support coal.
Infrastructure
Analysis
The rise and fall of World Bank funded megaprojects
The World Bank has announced funding for the controversial Southern Gas Corridor, while exiting two other high profile but problematic megaprojects, Inga 3 in Democratic Republic of Congo and Simandou in Guinea.
Finance
Analysis
IFC investment in Stora Enso: the need for a responsible IFC tax policy
The International Finance Corporation praises the pulp and paper company Stora Enso as an industry leader in environmental and social standards, but questions about Stora Enso’s Dutch tax arrangement remain unresolved.
Social services
Analysis
GFF falls short on family planning
Investments by the World Bank-hosted Global Financing Facility (GFF) do not reflect the family planning priorities identified by developing countries and local communities. The GFF also continues to suffer from a lack of transparency and meaningful civil society participation, raising doubts about the new mechanism’s effectiveness.
Environment
Analysis
Clean Technology Fund (CTF)
A revised Clean Technology Fund (CTF) pipeline management and cancellation policy has been approved. A document outlining further details on the proposed “CTF 2.0” will be discussed. Approval for reallocation of funds for a Morocco project was challenged by Germany and the decision postponed.
Environment
Analysis
Pilot Program for Climate Resilience (PPCR)
Pipeline management and cancellation policies are in preparation for the Pilot Program for Climate Resilience (PPCR) to address funding constraints, with no funding available for new pilot countries’ projects. Questions were raised about gender impacts for a renewable energy project in Mozambique.
Environment
Analysis
Forest Investment Program (FIP)
Challenges in measuring progress were noted for the Forest Investment Program (FIP), in particular greenhouse gas accounting. Investment plans for Mozambique and Ivory Coast have been approved. Questions were raised over the reasoning for a commercial teak plantation project in Ghana.
Environment
Analysis
Scaling Up Renewable Energy Program (SREP)
A new a new Enhanced Private Sector Program for the Scaling up Renewable Energy Program in Low Income Countries (SREP) is due to discussed. Cambodia’s investment plan has been approved. Social, environmental and financial risks related to a Nicaragua geothermal project were raised.
Environment
Analysis
Climate Investment Funds Monitor 14
New edition of the Bretton Woods Project's biannual Climate Investment Funds (CIFs) Monitor, including an update on the Green Climate Fund, published to coincide with the World Bank-hosted CIFs trust fund committee meetings.
Finance
Analysis
Development finance institutions and responsible corporate tax behaviour
Report finds Development Finance Institutions (DFIs) are not doing enough to eliminate the risk of public money being complicit in tax avoidance schemes.
Featured briefings
6 April 2022
The Bretton Woods Observer: Spring 2022
8 December 2021
The Bretton Woods Observer: Winter 2021
8 November 2021
IMF surveillance and climate change transition risks
New briefing by ActionAid USA and the Bretton Woods Project highlights research showing that IMF policy advice has undermined a just energy transition since the Paris Agreement was signed.