The International Finance Corporation (IFC, the private sector arm of the World Bank) in mid-March proposed a $7 million investment in Kenyan private education firm, Brookhouse Schools Limited.
Aid
Infrastructure
News
Indian NGO faults IFC energy project
A November field study by Indian NGO the Research Collective has found that an International Finance Corporation (IFC, the Bank's private sector arm) supported coal-power plant run by GMR Kamalanga Energy Limited (GKEL), financed through a financial intermediary, has caused water pollution in the Odisha region.
Finance
News
Tanzania water project "complete failure"
A Tanzanian water and sanitation project, in which the Bank invested $164 million from 2003 to 2010, has been "a complete failure" according to NGO Civil and Political Rights Watch (CPRW).
Finance
News
IDA 17: Back to big infrastructure, flirting with climate finance
While donors and the World Bank focus on IDA structural reform, the proposed IDA shift towards financing infrastructure and climate adaptation raises concerns over development impacts.
Rights
News
Safeguards: World Bank urged to incorporate human rights commitments "in all of its activities"
As the consultations on the World Bank's safeguards review progress, indigenous peoples groups and NGOs raised concerns over the process. There were also increased calls for the Bank to respect human rights in its policies, including a report from a UN Special Rapporteur.
Environment
News
Carbon capture
The World Bank has revealed details of its new climate change strategy, including promotion of carbon markets despite concerns from indigenous groups. While new conversations about the Bank's energy investments are anticipated, further criticisms were made over its involvement in fossil fuels and hydropower projects
Environment
Commentary
Dr Kim, where is Mongolia's economic diversification?
In late February the World Bank's private sector arm, the International Finance Corporation (IFC) and the European Bank for Reconstruction and Development (EBRD) boards decided to spearhead a $4 billion dollar syndicated loan to a copper, gold and silver mine located in the Gobi Desert in Mongolia. An increasing number of people believe that it is going to lead Mongolia to dependence on one product and one corporation, driving the country into deep insecurity.
IFI governance
News
World Bank's safeguards review extended
The first phase of the Bank's safeguard review has been extended to mid-April with global consultations planned, including on seven emerging areas.
Accountability
News
A forest of failures
A leaked copy of an evaluation of the Bank's forest strategy criticises the Bank's failure to address social and environmental goals. Further criticism has also been raised over the Bank's Forest Carbon Partnership Facility (FCPF).
Private Sector
News
IFC oblivious to impact of lending to financial sector
An audit of the IFC's investments in financial intermediaries reveals a lack of assessment of environmental and social impacts.
