The World Bank, in conjunction with the G20, is reinvigorating its infrastructure focus, paying particular attention to leveraging resources from the private sector and investing in fragile and conflict affected states. It announced a return to big hydropower projects, despite continued concerns about projects in the Democratic Republic of Congo, Guatemala and Uganda.
The second external evaluation of the IMF's Independent Evaluation Office (IEO), discussed by the IMF board end March, evaluated how well the IEO has met its institutional mandate since 2006.
We, the undersigned organisations, welcome the audit by the Compliance Advisor/Ombudsman (CAO) on the International Finance Corporation's lending to the financial sector. The IFC's response to the audit fails to acknowledge the gravity of the findings and is notable for its lack of commitment to addressing them. In advance of the IFC's planned consultation with civil society this month, we urge you to commit to revise the IFC's strategy for investment in this sector.
An annual Independent Evaluation Group (IEG) report on the Results and performance of the World Bank Group 2012 showed declining effectiveness at the Bank Group, with its worst ratings in the areas where its lending is increasing the fastest or it is prioritising work, such as infrastructure and public-private partnerships (PPPs).
The first phase of the Bank's safeguard review has been extended to mid-April with global consultations planned, including on seven emerging areas.
An audit of the IFC's investments in financial intermediaries reveals a lack of assessment of environmental and social impacts.
2012 saw continued crisis in Europe, but also a turning point in the leadership selection of the World Bank. The choice of Dr Jim Yong Kim as new president, who brings a background in public health in developing countries, marked the first ever selection of a development practitioner to lead the institution. However, large bureaucracies are slow to change, as the International Monetary Fund (IMF) found out with its inability to extricate itself from the morass developing in the eurozone.
The Bretton Woods Project launched the twice-yearly Climate Investment Funds (CIFs) Monitor in 2010 to track the development of the CIFs and highlight concerns. As it approaches our third year, we would like your input into how we can improve the CIFs Monitor to ensure that it remains a valuable resource for civil society and other interested stakeholders of the CIFs.
This session provided CSOs with the opportunity to have an exchange with IEG's Director-General and Senior Vice President on the role of the IEG.
Bretton Woods Project communications survey prize winners selected.