Bank President James Wolfensohn has announced a new initiative which aims to balance economic with non-economic analysis and enable real participation and transparency in drawing up country strategies.
World Bank Group
Infrastructure
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India power loan cleared
In February the World Bank’s Board cleared a $210 million dollar loan to the state of Andhra Pradesh, India after the United States Government decided to stop blocking the loan.
Environment
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Exchange highlights continuing Bank resettlement problems in India
At the half-way mark of the Bank’s controversial Coal India Environmental and Social Mitigation project local groups have criticised aspects of resettlement implementation.
IFI governance
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Bolivian NGOs angry at misrepresentation
Key Bolivian NGOs feel that Wolfensohn has misrepresented the Bolivian National Dialogue (carried out in 1997) and subsequent process as a model for other countries to follow.
Accountability
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Post-crisis social code diluted to weak Bank principles
There is danger that the aims and scope of the social principles (formerly the Social Code), which was proposed by Gordon Brown as a fourth pillar of the new international architecure, will be watered down to become simply a framework for the Bank’s social policy.
Knowledge
News
Bank approach to social capital criticised
Ben Fine, Professor of Economics at SOAS, University of London, has produced a 30,000 word paper which reviews and severely critiques the World Bank’s approach to social capital.
Conditionality
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Bank reforms leading to “social disaster” in Sri Lanka
MONLAR, a network of Sri Lankan people’s organisations, has written to the World Bank pointing out that social and equity issues have been overlooked, and democracy has been infringed in its pursuit of structural adjustment in Sri Lanka.
Finance
News
New credit line means more IMF conditionality
The G7 proposal to establish a Contingency Credit Facility has met with opposition from some European and developing countries.
Accountability
News
Last ditch attempt to save Inspection Panel
On March 24 the World Bank Board will hold a special consultation session about likely changes to the Bank’s Independent Inspection Panel.
Conditionality
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Selectivity: conditionality by any other name
Government officials met the World Bank in March to discuss new criteria for allocating its IDA (soft loan) resources among countries.
IFI governance
News
IMF social staff appointed
The UK Department for International Development is funding 2 social advisors to join the IMF’s Africa department to advise on the social implications of the IMF’s ESAF programmes.
IFI governance
News
Bank participation in carbon fund in doubt
The World Bank may have failed to secure European financial support for the Prototype Carbon Fund, one of the controversial carbon-trading schemes devised to implement the Kyoto climate change protocol.
