Bank's focus on attracting private investment through energy privatisation raises concerns, as it puts private profits over sustainable energy systems, burdening governments with debt and making electricity less affordable for citizens.
Energy
Infrastructure
News
Indonesia JETP's promotion of renewable energy privatisation opposed by unions and civil society
Indonesia’s Just Energy Transition Partnership bears the clear handprint of the World Bank’s private-sector led approach to power sectors in the Global South, creating opposition from unions and civil society.
Environment
News
Trump election may add pressure to reverse World Bank’s prohibition on support for nuclear power
Donald Trump’s election may result in a revision of World Bank’s long-standing prohibition of support to nuclear power.
Infrastructure
News
Banga calls energy access a ‘human right’ as he announces World Bank will provide access for 250 million people in Sub-Saharan Africa by 2030
Explicit mention of human rights obligations has long been a taboo subject at the World Bank.
Infrastructure
News
MIGA’s support for gas projects raises concerns about its climate credentials
World Bank’s commercial insurance arm provided nearly $850 million in guarantees for gas projects in Bangladesh and Mozambique in fiscal year 2022.
Finance
News
Restart of Pakistan’s IMF loan agreement collapses with change in government, as soaring costs of IFC-supported LNG add to fiscal pain
Pakistan increases fuel prices in effort to meet IMF conditions, while cost of importing LNG surges.
Infrastructure
Analysis
World Bank and IMF influence casts shadow over South Africa’s Just Energy Transition Partnership
World Bank’s support for fossil fuel projects, including problem-riddled Medupi coal power station, leaves its reputation in tatters with South African civil society.
Infrastructure
Analysis
World Bank announces support for CCUS in Nigeria despite criticisms it reinforces fossil fuel dependence
World Bank trust fund ESMAP will provide support for domestic market, while IFC will support private sector investment in CCUS.
Infrastructure
News
Nigerian CSO denounces increase in energy tariffs linked to World Bank-backed reforms
World Bank’s backed energy reforms in Nigeria set to raise electricity prices further despite amid Covid-19 pandemic.
Infrastructure
News
World Bank technical assistance and policy lending lead to Jamaica gas lock-in
Bank support facilitated $1 billion in private investment in LNG on the island, despite the green credentials of natural gas being widely debunked.
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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.