While the World Bank promotes the burgeoning carbon trading market as a "tool to help Africa's poor", an investigation has unearthed gross incompetence with the Clean Development Mechanism (CDM) in which the Bank is heavily involved. A report by Oxfam points out serious inadequacies with the Bank's adaptation figures.
Highlights of a 22 June 2007 meeting between UK NGOs and UK executive director to the World Bank and IMF, Tom Scholar. Issues covered included review of the Bank's transport strategy, avoided deforestation, conditionality, debt, social protection and IFI governance.
The fourth week of the drama unfolding at the World Bank over president Paul Wolfowitz’s promotion of partner Shaha Riza has raised more question marks over Wolfowitz’s judgment during his time at the Bank, further calls for his resignation, and widespread recognition of the need to end the fix which sees the president chosen by the US administration.
The World Bank released a first draft of its latest World Development Report on 'agriculture for development' on 9 April.
Highlights of meeting between Tom Scholar and UK NGOs, April 2007
Minutes of press briefing
Minutes of meeting
Minutes of meeting on climate contradictions at the World Bank spring meetings April 2007.
The seventh annual conference of the Parliamentary Network on the World Bank was held in Cape Town in March.
As part of its commitment to solve the global problems of energy poverty and climate change, in late March the World Bank and the European Investment Bank launched the Carbon Fund for Europe. However the Bank’s recent Implementation of the Management Response to the Extractive Industries Review 2006 reveals an alarming rise in its fossil fuel operations and show that little progress has been made on its environment and development indicators.