In 2023, BWP continued its work as a watchdog of the World Bank and the IMF, supporting and amplifying the voices of critical civil society groups to capitalise on calls for substantive change, with a focus on four advocacy areas: Gender equality and macroeconomics, the environment, governance reform and accountability, and financialisation and human rights.
World Bank Group
As every year, BWP published its collection of reports, briefings, CSO letters and other resources with a critical angle published in the past year on the World Bank and the IMF.
While World Bank President declares the benefits of a “bigger and better” Bank, the scandal of alleged child sexual abuse and cover up relating to IFC investments in Bridge Academies demonstrates the urgent need for the Bank to establish a robust remedy framework.
Despite the World Bank’s commitment to move away from funding coal, a series of loopholes in its financial intermediary lending remain that will continue to allow finance to support coal power projects.
Global South faces severe structural deficiencies that weaken its economic sovereignty and put it at the mercy of a neo-colonial global financial architecture.
Civil society research documents clear harms from privatisation and fiscal consolidation on public services and human rights, as Bank and Fund push for their deepening.
UN Secretary General’s New Agenda for Peace report identifies growing threats to global peace and stability, and proposes urgent reforms to the unjust economic system. World Bank and IMF resist policy and governance reform.
Developing countries insist on lengthy list of conditions as Bank is named host of new Loss and Damage Fund on interim basis.
Rich countries need to agree to an ambitious IDA21 replenishment to address compounding economic and liquidity crises, causing high levels of debt distress in low-income countries.
New research by Urgewald finds that the World Bank Group invested an estimated $3.7 billion in oil and gas developments in 2022 via trade financing.
Laure-Alizée Le Lannou will support the Project’s work on environmental and climate advocacy targeting the World Bank as well as research on IMF Special Drawing Rights.
Sri Lankan trade unions call out IMF and World Bank's dismantling of country’s social protection system in favor of ineffective targeting schemes.
Notes from the Civil Society Policy Forum on 11 October 2023 titled, "An Evolution Roadmap responsive to development crises? Towards an external evaluation of the World Bank’s cascade."
Notes from the Civil Society Policy Forum on 12 October 2023 titled, "The B-Ready Project: A significant departure from the Doing Business Report?"
Notes from the Civil Society Policy Forum Session 'African perspectives on the reforms of the international financial architecture' on 11 October 2023.
New analysis by Bank Climate Advocates of 300 projects found IFC failed to follow its own guidelines on ‘emissions quantification, alternatives analysis, mitigation, disclosure and affected communities impact assessment’.