Despite efforts to boost its influence within climate finance circles and a call to “decarbonise development”, the World Bank continues to support fossil fuels.
Energy
Infrastructure
Background
Issue overview: World Bank and energy
What’s the issue? Energy is a crucial economic sector which has a disproportionate influence on…
Environment
Analysis
Clean Technology Fund (CTF)
Concerns have been raised about a projected shortfall of resources for the Clean Technology Fund, with an early warning mechanism due to be discussed. Questions were raised about development benefits of a Colombia project and on safeguards for a Vietnam project.
Environment
Analysis
Scaling Up Renewable Energy Program (SREP)
Indicative funding allocations have been agreed for 14 new Scaling up Renewable Energy Program in Low Income Countries pilot countries, however, cautions remained about “unrealistic expectations” about funding availability. Questions were raised about incentives for diesel in a Kenya project.
IFI governance
Background
What are the trends in the energy sector?
Notes from a meeting on energy during the World Bank spring meetings.
Rights
News
Bank implicated in Kenya Maasai eviction
The World Bank's Inspection Panel has found the Bank breached its own standards through its involvement in a Kenyan electricity project which has displaced Maasai communities.
Infrastructure
Analysis
World Bank pitches mining to drive energy investment in Africa
A World Bank report calling for closer collaboration between mining and energy companies in Africa is criticised for underplaying risks and neglecting more efficient energy options for the poor.
Conditionality
Commentary
The Arab world’s subsidy nightmare: pondering alternatives
For decades, the Arab region has embarked on a series of IMF-prescribed energy subsidy reforms, which have contributed to increased poverty levels.
Infrastructure
News
World Bank Global Infrastructure Facility launched despite “reputational risks”
The World Bank-hosted Global Infrastructure Facility has been launched despite concerns over risks, including duplication with other initiatives, such as the new Asian Infrastructure Investment Bank.
Infrastructure
News
New report highlights lack of MDB spending on energy access for the poor
A new report by Sierra Club and Oil Change International highlights the need for MDBs to establish criteria for energy access for the poor within their energy portfolios in order to achieve the goal of universal energy access by 2030.
Featured briefings
6 April 2023
World Bank and IMF Spring Meetings 2023
5 April 2023
The IMF at the 75th anniversary of the Universal Declaration of Human Rights: The need for governance reform
As the world celebrates the 75th anniversary of the Universal Declaration of Human Rights, it is time the IMF’s shareholders use the opportunities provided by the anniversary and growing calls for reforms to the international financial architecture to redesign the IMF’s governance structures and programmes to ensure they are consistent with the commitments outlined in 1948 and with international human rights law.
5 April 2023
The global financial architecture and the international debt crisis: An urgent call for reform
Influence of unreformed international financial institutions and creditor interests in debt solutions in low- and middle-income countries plagued by delay and ineffective when undertaken.