The World Bank Group's International Finance Corporation (IFC) lending has grown enormously over the past decade, with commitments reaching a record $18 billion in the 2010 financial year. At the same time, there has been a significant shift in the way the IFC does business. Increasingly, instead of managing its loans and investments itself, it relies on financial intermediaries such as banks and private investment funds. In the 2010 financial year, finance sector lending made up over half of al
Transparency-WB/IMF
Accountability
Analysis
Submission to the International Development Committee of the UK parliament: inquiry into the World B
The UK should not increase its contribution to IDA in the current replenishment. Instead, it should focus on achieving substantial reforms of the World Bank and IFC in key areas, including health, gender, climate and energy, and the private sector, and in radically improving the legitimacy, transparency and accountability of the institution.
Rights
News
Palmed off: World Bank's palm oil framework 'business as usual' despite environmental and rights con
The World Bank’s draft framework for investment in the palm oil sector was met with dismay from civil society groups, who said that it failed to offer a credible strategy to address manifold social and environmental problems.
Rights
News
World Bank transparency weak in practice
In July the Bank's new disclosure policy came into effect (see Update 68), but NGOs are warning that it fails to adequately cover ongoing processes and negotiations with governments.
Accountability
Analysis
Submission on the World Bank and IFC to DFID's multilateral aid review
As the UK government reviews its funding and relationships with multilateral organisations, we argue that the World Bank Group's poor performance, lack of country ownership and accountability, and tendency to 'mission creep', require a focus on institutional and policy change at the Bank, and no increase in funding.
Accountability
Background
Meeting of UK NGOs and Susanna Moorehead, UK Executive Director to the World Bank, and Rachel Turner
Notes of the meeting
Rights
News
Is IFC palm oil investment a foregone conclusion?
The World Bank is currently undertaking a major review of its controversial engagement in palm oil production, but critics warn that consultation has been inadequate and that the Bank seems to have already decided to continue investment in the sector.
Accountability
News
World Bank's anti-corruption "charade"
Fresh revelations have again called into question a review of the Bank's anti-corruption unit.
IFI governance
News
ICSID takes ad hoc approach to transparency
The International Centre for Settlement of Investment Disputes, a World Bank arm for investor-state dispute arbitration, decided in March that questions of confidentiality and transparency in arbitration are to be determined on a case-by-case basis.
IFI governance
News
IMF waters down transparency review
The IMF executive board significantly weakened many of the far-ranging proposals made by Fund staff in the recently completed transparency review, leaving significant power in the hands of countries to block the disclosure of country documents, and failing to require publication of draft policy proposals before they are discussed at the Board.
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IMF surveillance and climate change transition risks
New briefing by ActionAid USA and the Bretton Woods Project highlights research showing that IMF policy advice has undermined a just energy transition since the Paris Agreement was signed.