US Treasury Secretary Scott Bessent indicates US will stay in the Bank and Fund, claiming “America First does not mean America alone,” as tariffs and rising debt vulnerabilities prompt gloomy forecast.
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International Finance Corporation (IFC)
IFI governance
Analysis
Development Committee chair’s statement analysis Spring Meetings 2025: holding out on climate, but not without private finance
The Development Committee met on 24 April, with the chair issuing a statement, instead of a communiqué, reflecting the views of the majority of the group and providing clarity on priorities and moments of consensus within the chaos.
IFI governance
Analysis
Spring Meetings 2025 Preamble: geopolitical turmoil further muddies path of BWI reform and multilateral cooperation
As the World Bank and IMF prepare for the 2025 Spring Meetings, the US executive order reviewing its participation in global institutions has heightened long-standing concerns about the direction of the Bretton Woods system – with civil society turning to FfD4 to reimagine the future of multilateralism.
Finance
Analysis
Civil society calls for FfD4 to revive 'spirit of Monterrey' and reassert UN's role in global economic governance
The role of Bretton Woods Institutions remains a key point of contention, amidst their stark governance deficits.
Social services
Commentary
New report documents abuses at IFC-funded hospitals, further exposing consequences of the “billions to trillions” approach
Bloomberg investigation adds further evidence of negative consequences for people and governments of IFC’s for-profit healthcare model.
Finance
Analysis
Breaking free from the aid trap: time for Africa to halt international financial institutions' austerity policies
The ‘aid trap’ continues in light of significant ODA cuts amidst political change in donor countries, as the BWIs continue to facilitate the financialisation of essential services like healthcare.
Environment
Analysis
COP29 sees MDBs climate finance take centre stage, as civil society brands new climate finance goal a ‘betrayal’
Rich countries agree to provide a paltry $300 billion in public finance by 2035 including funds channelled through MDBs, as Small Island States and Least Developed Countries stage walkout.
Accountability
Analysis
Missing in action: accountability is noticeably absent from the World Bank Group’s new Corporate Scorecard
The Corporate Scorecard’s accountability gap is symptomatic of a broader failure on the part of the WBG to fully internalise, integrate and learn from the work of its accountability mechanisms.
Other news
IFI governance
Background
IFC Sustainability Framework Review: a pivotal opportunity to protect human rights and the environment
Notes from the 24 April Civil Society Policy Forum session, titled IFC Sustainability Framework Review: a pivotal opportunity to protect human rights and the environment.
IFI governance
Background
Beyond size in IDA21 replenishment: What about socio-economic transformation?
Notes from Civil Society Policy Forum panel 19 April titled, "Beyond size in IDA21 replenishment: What about socio-economic transformation?"
Accountability
News
IFC ends investment in waste-to-energy incineration projects in Gujarat, India, following civil society campaign
While IFC’s withdrawal is welcome, civil society urges the Bank to stop funding WTE projects and move towards zero-waste solutions instead.
Rights
News
Communities demand justice as IFC fails to address coal financing fallout
IFC faces backlash for failing to address social and environmental harms from its financing of coal plants in the Philippines, despite proven health and environmental violations.
Accountability
News
CAO report adds to concerns about IFC's compliance with its own GHG emissions obligations
CAO report substantiates civil society findings about IFC’s failure to comply with its own requirements for GHG emissions measurement, alternatives analysis, mitigation and disclosure.
Environment
News
Trump election may add pressure to reverse World Bank’s prohibition on support for nuclear power
Donald Trump’s election may result in a revision of World Bank’s long-standing prohibition of support to nuclear power.
Infrastructure
News
Banga calls energy access a ‘human right’ as he announces World Bank will provide access for 250 million people in Sub-Saharan Africa by 2030
Explicit mention of human rights obligations has long been a taboo subject at the World Bank.
IFI governance
Background
When exits and accountability collide: What happens when IFC exits projects mid-accountability process?
Notes from Civil Society Policy Forum on Thursday, 18 April titled, "When exits & accountability collide: What happens when IFC exits projects mid-accountability process?"
