Thank you for your email letter addressed to Dr. Jim Kim, President of the World Bank Group, dated 12th March 2013, and your clarifying email of 27th March, relating to IFC investments in the financial sector. In this regard, following Dr Kim's response to you, he has asked us to provide a detailed response to your messages.
Safeguards
Accountability
Background
UK civil society meeting with UK World Bank Executive Director Gwen Hines
Notes of a meeting with UK executive director to the World Bank Gwen Hines in April 2013
Environment
Analysis
Climate Investment Funds Monitor 7
The Climate Investment Funds (CIFs) are financing instruments designed to pilot low-carbon and climate-resilient development through the multilateral development banks (MDBs). They are comprised of two trust funds - the Clean Technology Fund (CTF) and the Strategic Climate Fund (SCF).
Accountability
Background
Bending the arc of poverty
The session focused on the World Bank's development strategy, poverty eradication goals, global inequality, and the threat of climate change.
Accountability
Background
Financial and housing crises, the Bank's safeguards and the right to adequate housing
This session featured a presentation from UN special rapporteur on the links between financial and housing crises, safeguards and the right to adequate housing.
Accountability
Background
The challenges of advancing sustainability at the World Bank
This panel discussion reflected on the major sustainability challenges facing the World Bank through exploring two World Resources Institute areas - a portfolio analysis on 2012 projects, and the interaction between country systems and World Bank safeguard approaches.
Accountability
News
Spring meetings 2013: communiqués coverage
Coverage of the communiqu
Rights
News
Campaigners demand new IFC financial sector strategy
In early March, 45 civil society organisations wrote to World Bank president Jim Yong Kim complaining that the International Finance Corporation (IFC, the World Bank's private sector arm) response to the an audit of its lending to the financial sector "fail[ed] to acknowledge the gravity of the findings and [was] notable for its lack of commitment to addressing them".
Rights
News
Safeguards: World Bank urged to incorporate human rights commitments "in all of its activities"
As the consultations on the World Bank's safeguards review progress, indigenous peoples groups and NGOs raised concerns over the process. There were also increased calls for the Bank to respect human rights in its policies, including a report from a UN Special Rapporteur.
Environment
Commentary
Dr Kim, where is Mongolia's economic diversification?
In late February the World Bank's private sector arm, the International Finance Corporation (IFC) and the European Bank for Reconstruction and Development (EBRD) boards decided to spearhead a $4 billion dollar syndicated loan to a copper, gold and silver mine located in the Gobi Desert in Mongolia. An increasing number of people believe that it is going to lead Mongolia to dependence on one product and one corporation, driving the country into deep insecurity.