Argentine president Nestor Kirchner and Venezuelan president Hugo Chavez announced 21 February that the two governments would establish a Bank of the South within 120 days.
Other International Financial Institutions
Infrastructure
News
More fossil fuels and faith in the private sector
As part of its commitment to solve the global problems of energy poverty and climate change, in late March the World Bank and the European Investment Bank launched the Carbon Fund for Europe. However the Bank’s recent Implementation of the Management Response to the Extractive Industries Review 2006 reveals an alarming rise in its fossil fuel operations and show that little progress has been made on its environment and development indicators.
Rights
News
Bank directors bound by rights obligations
A report by a coalition of German NGOs finds that Germany extra-territorial obligations extend to its role in multilateral development banks.
IFI governance
News
Only 22% of info requests fulfilled
A new study released in October by the Global Transparency Initiative undermines IFI claims to increased transparency.
Accountability
Commentary
Time to listen to Lesotho! - The World Bank and its new anti-corruption agenda
Comment piece by Hennie Van Vuuren on corruption and bribery in the Bank-supported Lesotho Highlands Water Scheme
Finance
News
Mauritania, Malawi qualify for debt relief
Mauritania qualified for the Multilateral Debt Relief Initiative in June, while Malawi completed the Heavily Indebted Poor Countries initiative in August.
Trade
Background
Trade finance linkages in Latin America
Highlights of a civil society meeting on trade-finance linkages in Latin America, 20 April 2006, Washington. Hosted by the Center of Concern.
Rights
Commentary
The Bank and Fund: do civil society groups in the Arab region realise what’s going on?
Comment by the Arab NGO Network for Development on the need for civil society in the region to take a more active role in monitoring the work of the IFIs.
Rights
News
Lao dam: obligations undermined?
A report by Can and Leader analyses the concession agreement for the Bank-supported Nam Theun 2 dam in Lao PDR (Update 45), between the country's government and the Nam Theun 2 Power Company Ltd (NTPC).
IFI governance
News
Transparency charter for IFIs
The Global Transparency Initiative will be holding a three-month consultation starting 28 September, on a draft charter of transparency principles which the international financial institutions should uphold.
Knowledge
News
UK National audit office undertakes a review of DfID's engagement with multilaterals
Summary of the terms of reference of the UK National audit office's review of DfID's engagement with multilaterals
Rights
News
The G8, the World Bank and the IMF: Debt, aid and trade implications
At their 6 - 8 July summit in Gleneagles Scotland, G8 leaders tasked the World Bank and the IMF with much of the follow-up on their commitments on debt reduction, increased aid and fairer trade.
