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.
Notes of meeting, Spring meetings 2012, Washington DC
In October 2011 international coalition of civil society groups Seattle to Brussels Network held an international week of action against bilateral investment treaties.
Bank-funded private water projects across the world are facing serious problems due to financial, socio-political and operational concerns, but recent trends show that more such projects are coming up in the name of innovative approaches.
The UK House of Commons International Development Committee (IDC) has expressed concerns that “when bidding for infrastructure projects, local contractors often do not stand a chance against international bidders, partly due to rigid rules used by multilateral development banks (MDBs) such as the European Union (EU) and the World Bank. ”
Notes of a meeting, Washington DC, 21 September 2011
Over the past year, World Bank chief economist Justin Lin has tried to reopen debate at the Bank over whether developing country governments should adopt active industrial policies, previously taboo at the institution.
The Multilateral Investment Guarantee Agency (MIGA), which forms a part of the World Bank Group, promotes foreign direct investment (FDI) in its 175 member countries.
The International Center for the Settlement of Investment Disputes (ICSID) is facing an explosion of cases and increasingly vocal criticism from Latin American countries. Questions remain over whether it helps channel productive investment to developing countries or serves as a tool for multinational corporations to get their way.
The International Center for the Settlement of Investment Disputes (ICSID), part of the World Bank Group, is an arbitration forum between governments and foreign investors to settle investment disputes. Two thirds of international investment disputes go through ICSID.