Spring Meetings unlikely to deliver structural reforms required to respond to worsening polycrisis, as Global North-driven World Bank reform set to divert attention from poverty and inequality and geopolitical tensions dampen hopes of new SDR allocation and IMF quota reform.
57 CSOs highlight need for operational changes in the World Bank’s new accountability scheme to ensure its effectiveness.
World Bank’s IFC $200 loan for large-scale agricultural production in Brazil disregards serious human rights and environmental concerns, despite calls by 200 civil society organisations globally
New CSO research alleges that IFC investments have contributed to forced displacement and labour, detention, and other human rights violations of Uyghurs and other minorities in Xinjiang, China.
The divestment follows a 2020 freeze in new IFC direct and indirect investments in for-profit education providers.
Civil society urges IFC and MIGA to act to maximise the benefits of CAO reforms
World Bank and Inter-American Development Bank's reactive independent accountability mechanisms cannot address harms caused by lack of proper due diligence in Alto Maipo.
As the inability of Bank and Fund to adapt their policies in response to the Covid-19 pandemic becomes more evident, hope turns to the UN system and a radical restructure of the global international financial architecture.
Civil society call on newly appointed CAO vice president to safeguard CAO’s independence and fight for full implementation of recent external review of IFC and MIGA accountability framework.
IFC continues to avoid responsibility for its investments in Tata Mundra coal power plant as US federal court rules that harmful acts took place outside the United States.
Implementation in full of the independent review of IFC, MIGA and CAO is essential if institutions are to meet persistent accountability and remedy gaps.
World Bank board silent following meeting on Guatemala dam investigation into IFC-linked harms.
