A joint NGO letter recently helped prevent a plan by World Bank Managing Directors to axe the Environmentally and Socially Sustainable Development Vice Presidency (ESSD).
A refreshing new World Bank discussion paper frankly recognises that aid agencies are not cooperating effectively, and that mechanisms such as Consultative Groups and the Bank’s internal culture need to change.
UK Prime Minister Tony Blair made a speech at the New York Stock Exchange arguing that the World Bank and IMF have fundamental weaknesses and need to be reformed.
The Bank will spend $50m over the next two years recruiting financial sector experts for a new Special Financial Operations unit.
The Kyoto climate change meeting in December brought together ministers from 160 countries to agree binding restrictions on greenhouse gas emissions.
The World Commission on Dams, looks likely to start operations this Spring.
The NGO World Bank Working Group is in the process of restructuring to become more regional and more representative.
The world’s richest countries’ annual summit will take place in Birmingham, UK, this year from 15-17 May.
The IMF and World Bank should reform their constitutional rules and decision-making procedures and practices if they are to achieve the standard of good governance they themselves have defined for borrowing members.