The World Bank is focussing significant time and resources into promoting itself as an agent for tackling climate change, but is still funds dirty energy through coal and gas projects, most recently in China.
The Cyprus government nearly fell in February over IMF and European demands for the privatisation of three public utilities.
Ukraine’s interim government concluded negotiations in late March for an IMF loan, likely to carry wide-ranging conditionality.
A leaked draft IEG report reveals declining performance trends at the World Bank, including the IFC’s financial sector lending, while the implementation of the Bank’s strategy continues with the launch of a public consultation on the new country engagement model.
Former Portuguese finance minister, dubbed “fourth member of the Troika” appointed to head IMF fiscal affairs department.
The IMF released papers accepting the case against inequality, however it shows no indication of changing its demands upon borrowing countries.
World Bank support for a Nepal power line has been criticised for violating indigenous peoples’ rights and the use of armed forces, yet an Inspection Panel investigation has been delayed.
An IFC investment in ANZ Royal Bank has been criticised after the bank was implicated in a “massive land grab” in Cambodia. Further cases from Guatemala and Honduras reinforce calls for IFC to rethink its investments in financial intermediaries.
CSO concerns have been raised over the Bank’s Global Partnership for Oceans initiative, due to the strong emphasis on promoting aquaculture and the push for privatisation of access to fish resources.
This letter was written to respond to an IFC 6 January 2014 reply to a November 2013 civil society letter about the International Finance Corporation’s action plan to reform lending to the financial sector. The 26 groups signed on to the letter believe the IFC’s action plan is inadequate and urge the head of the IFC to do more to address the audit’s findings.
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The World Bank has launched a consultation on its new strategy to mainstream a coherent approach to citizen engagement.
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.
