This briefing notes that recent reforms to the IMF and World Bank governance and the establishment of new Southern-led IFIs are symbolically important, however, they are thus far not a rupture with the Western-dominated international financial architecture.
Other International Financial Institutions
IFI governance
Background
Recommended resources on the World Bank and IMF 2015
The best books and papers on the World Bank and IMF from 2015.
Accountability
Analysis
Where’s the remedy? Development banks must do more to remedy harm caused by the activities they finance
A report assessing the effectiveness of 11 development bank’s accountability systems found that they are not effective at consistently providing remedy to those harmed.
IFI governance
Analysis
IMF governance: one step forward, one step back
Reform to the IMF’s voting shares shifts some power to emerging countries, but the institution’s leadership selection process remains opaque and undemocratic.
Environment
Analysis
Climate Investment Funds Monitor 12
New edition of the Bretton Woods Project's biannual Climate Investment Fund (CIFs) Monitor, published to coincide with the World Bank-hosted CIFs committee meetings.
Environment
Analysis
Clean Technology Fund (CTF)
An impending shortfall in available resources for the Clean Technology Fund continues to concern, leading to cancellation of projects. Questions were raised about development impacts and reliance on geothermal energy in India and Indonesia's revised investment plans, and on debt sustainability in a Caribbean project.
Environment
Analysis
Pilot Program for Climate Resilience (PPCR)
The Pilot Program for Climate Resilience (PPCR) has expanded with ten countries despite a lack of funds. The US questioned the approval of a Bolivia project and resettlement issues were raised on two Cambodia projects.
Environment
Analysis
Forest Investment Program (FIP)
Six new countries were invited to join the Forest Investment Program (FIP), with a further nine invited to develop investment plans, despite insufficient funds. Potential support for oil palm plantations in Democratic Republic of Congo and industrial logging in Indonesia and Peru were questioned.
Environment
Analysis
Scaling Up Renewable Energy Program (SREP)
Concerns have been raised about the slow progress with the Scaling up Renewable Energy Program in Low Income Countries (SREP). Ghana, Haiti and Nicaragua's investment plans were approved, with questions asked about the loan/grant ratio, promotion of PPPs, and reliance on funding from the Green Climate Fund.
Social services
Analysis
Throwing evidence to the wind? The World Bank continues pushing PPPs
The World Bank continues its strong marketing push for PPPs, despite concerns raised by IMF, IEG, civil society and the Bank’s own publications.
Environment
Analysis
Climate of controversy
Despite efforts to boost its influence within climate finance circles and a call to “decarbonise development”, the World Bank continues to support fossil fuels.
Finance
Analysis
UN Financing for Development: the Fund and Bank's role & influence
This briefing analyses the role of the Bank and Fund in the UN Financing for Development negotiations.
