On November 22nd 2010, CounterBalance and the Bretton Woods Project hosted a conference in London on "The Private Sector Turn" - the increasing shift from public to private funding in development finance, the forms it takes and what it means for activists and affected people. What follows is a summary of the day's proceedings.
Anti-corruption
Environment
News
Undermining development? IFIs' role in extractive industries in disarray
Ongoing mining projects’ impacts on rights, gender and the environment suggest a new approach to the sector is needed, as the IMF and World Bank dole out contradictory advice on mining revenues.
Environment
News
World Bank coal lending up amid energy furore
Energy policy at the World Bank remains controversial, with escalating lending to coal projects and a delay to the energy strategy review. Past Bank-financed energy projects in Ghana and Albania are also proving problematic.
Accountability
News
IMF grants Antigua loan amid controversy
The IMF has faced increased political pressure to refuse a $118 million loan to Antigua and Barbuda following the government’s seizure of assets belonging to Allen Stanford, former head of the now fallen Stanford Investment Bank (SIB).
Environment
News
IFC's mining investments: a black hole for human rights?
A spate of human rights violations and environmental abuses by mining ventures backed by the International Finance Corporation (IFC), the private sector arm of the World Bank, is raising alarm over the inadequacy of its social and environmental standards.
Accountability
News
IMF restores votes for Zimbabwe
The IMF board announced in mid February that the voting rights of Zimbabwe would be restored after seven years of suspension for unpaid debt, meaning that Zimbabwe can now participate in Fund decision making.
Accountability
News
Education strategy review: has the Bank learned its lessons?
The World Bank launched a review of its education strategy in January with a concept note setting out key challenges and principles for a sector where its activities have come under sustained criticism.
Accountability
News
Racial discrimination at World Bank
A review of the treatment of black employees at the World Bank in recruitment, retention and justice decisions has been released by the Government Accountability Project (GAP).
IFI governance
News
IEG: IDA anti-corruption measure inadequate
The IEG published in April a Review of IDA Internal Controls, finding deficiencies in the fiduciary processes and controls the Bank has set up to manage the risk of corruption in IDA operations.
Accountability
News
Clarification: Armenia corruption Allegations
We would like to appologise for any confusion due to an article in Update 62 on water privatisation. In discussing a Bank project in Yerevan, Armenia, it may not have been clear that all statements about tendering the parliamentary commission, water services, and project material were allegations from the Government Accountability Project (GAP) report.
Featured briefings
9 June 2025
New data reveal World Bank DPF ‘climate finance’ carries strong private sector bias, undermining a just transition
New BWP briefing finds the World Bank counted 70 per cent of energy-sector reforms in Development Policy Financing as having 'climate co-benefits' between 2018-2023 - but most of these promoted a private-led energy transition.
15 April 2025
The Bretton Woods Observer: Spring 2025
2 April 2025