This paper critically assesses the appropriateness of the Bank-housed Climate Investment Funds (CIFs) as a model for the Green Climate Fund (GCF). It takes proposals and recommendations by civil society groups and uses them as benchmarks to analyse the CIFs. It finds that in terms of institutional arrangements the CIFs have achieved some notable progress, however, in operations and performance there are serious concerns.
Aid
Finance
News
World Bank admits failures in East Timor
In April the Independent Evaluation Group (IEG), the Bank's arms-length evaluation body, released a critical report assessing Bank operations in East Timor from 2000 to 2010.
Finance
News
Aid to Afghanistan, Malawi suspended on IMF decision
International donors including USAID and UK DFID have halted aid to Afghanistan following the IMF's suspension of funds in February.
Finance
Background
IFC's international development goals
IFC staff member discusses plans for goals to guide future work in private sector development.
Accountability
News
UK reviews of World Bank paint a mixed picture
The UK government's review of multilateral aid endorsed the World Bank, despite identifying major institutional weaknesses.
Accountability
News
World Bank safeguards and independent scrutiny at risk?
Civil society groups have challenged Bank plans to rush through a new lending instrument, Program-for-Results, that would mean safeguards or equivalent standards no longer apply to a major portion of Bank lending. Meanwhile, a secretive review could strip the Bank's accountability bodies of their independence and safeguards could be scaled back for projects deemed "low risk".
Accountability
News
Donor IDA pledges fall flat
The World Bank gained a 12 per cent inflation adjusted increase from the 16th fundraising round for its low-income country arm, the International Development Association (IDA), despite flat donor contributions, amid renewed criticism of its overall approach.
Finance
News
IDA - World Bank angling for increased funding
The World Bank used its October annual meetings to lobby donors to increase funding to the International Development Association (IDA, the Bank's low-income country arm), but official papers suggest the majority of increases will likely come from its own coffers, while NGOs remain sceptical.
Accountability
Analysis
Submission to the International Development Committee of the UK parliament: inquiry into the World B
The UK should not increase its contribution to IDA in the current replenishment. Instead, it should focus on achieving substantial reforms of the World Bank and IFC in key areas, including health, gender, climate and energy, and the private sector, and in radically improving the legitimacy, transparency and accountability of the institution.
Finance
Background
Towards a new development paradigm
Notes of the seminar of annual meetings 2010
Featured briefings
16 October 2024
The Bretton Woods Observer: Autumn 2024
16 October 2024
The lost call for international financial architecture reform in the G20
At the 80th anniversary of the World Bank and IMF, global civil society must maintain pressure on the Brazilian and South African G20 presidencies to ensure the forth Financing for Development Conference in 2025 results in urgently required international financial architecture reform.
16 October 2024
Sustainable development requires sustainable finance: why local currency financing is part of the solution
Multilateral development banks can reduce their dependence on hard currency lending and make local currency financing a central element of their developmental mandate.