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.
A new study by Karen Mundy and Francine Menashy of the University of Toronto reveals that the International Finance Corporation's (IFC) education funding pays limited attention to poverty and distributional issues.
Civil society organisations met UK Executive Director to the World Bank Susanna Moorehead and staff from the Department for International Development to discuss IDA, education finance, infrastructure finance, fragile states, agriculture and land, Doing Business rankings, Oyu Tolgoi project in Mongolia.
NGOs continue to find that the International Finance Corporation (IFC), the World Bank's private sector arm, is off track in reducing poverty and promoting development, with concerns that the IFC development goals to be implemented in July will not help the poorest.
Minutes meeting for A Global Shared Societies Agenda
A recent report by the Australian NGO RESULTS International criticises the Bank for its lack of consideration of gender and disability in its education projects.
While Christine Lagarde and staff at the Fund begin to acknowledge that too much austerity is risking jobs and growth and civil society groups call for an end to IFIs policy conditions, IMF programmes continue to promote fiscal retrenchment.
The Bank's Independent Evaluation Group (IEG) released its annual report at end August, again finding shortfalls and uneven results across the World Bank Group. While the Bank's leadership has steered the institution towards more private sector work, outcomes in the education sector and the Middle East and North Africa (MENA) region have dropped substantially.
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.
While the Bank is developing a new social protection and labour strategy, its approach to health and continuing push for privatisation of public services have come under fire again.