Faced with deafening silence from Bank and Fund leadership on climate issues at the Spring Meetings, climate vulnerable countries demand urgent changes to global financial architecture.
East Asia & Pacific
Environment
Analysis
COP29 sees MDBs climate finance take centre stage, as civil society brands new climate finance goal a ‘betrayal’
Rich countries agree to provide a paltry $300 billion in public finance by 2035 including funds channelled through MDBs, as Small Island States and Least Developed Countries stage walkout.
Rights
News
Communities demand justice as IFC fails to address coal financing fallout
IFC faces backlash for failing to address social and environmental harms from its financing of coal plants in the Philippines, despite proven health and environmental violations.
Private Sector
Commentary
The B-Ready index: the World Bank’s bluewashing of labour rights
World Bank’s new Business-Ready (B-Ready) index offers new measures but reductionist approach, ultimately rewarding countries driving down labour rights in favour of business.
IFI governance
Analysis
G20 communiqué analysis Annual Meetings 2024: progress on tax and inequality obscures Group's wider failures
At the 25th anniversary of the Group’s Finance Track, the G20 communiqué’s robust language on the taxation of billionaires, including encouraging “constructive discussions” about the UN Tax Conference was contrasted by much more cautious language on MDB reform, climate finance, debt and Special Drawing Rights.
IFI governance
Analysis
V20 communiqué analysis Annual Meetings 2024: climate vulnerable countries once again demand key changes to IMF’s approach, as world risks breaching climate tipping points
V20 members offered a searing indictment of rich countries’ failure to act on BWIs governance, debt relief, climate finance and SDRs.
Finance
News
Project 2025 takes on the World Bank and IMF – harbinger of an uncertain new era of geopolitics?
US conservative blueprint for second Trump term calls for US to withdraw from World Bank and IMF, amid continued geopolitical tensions and unresolved debt crisis in Global South.
Private Sector
Background
What is the International Finance Corporation (IFC)?
This Inside the Institutions explores the International Finance Corporation (IFC), the World Bank Group’s private sector arm. It examines the function of the IFC as a development institution focused solely on private sector solutions to development and considers civil society critiques.
IFI governance
Analysis
V20 communiqué analysis Spring Meetings 2024: Climate vulnerable countries issue call to action, as net-negative flows result in ‘millions in, billions out’ amid growing debt burdens
V20 members are expected to pay $904.7 billion in debt service between 2022-2030, as debt, lack of financing and low projected growth hampers prospects for green economic transformation.
IFI governance
Analysis
Spring Meetings 2024 Wrap Up: Despite mounting crises, persistent lack of political will to match rhetoric with action remains
Urgent BWIs reforms remain hostage to lack of political will in Global North as the G20 failed to deliver on important issues within a fragmented geopolitical situation.
IFI governance
Background
When exits and accountability collide: What happens when IFC exits projects mid-accountability process?
Notes from Civil Society Policy Forum on Thursday, 18 April titled, "When exits & accountability collide: What happens when IFC exits projects mid-accountability process?"
Infrastructure
News
Indonesia JETP's promotion of renewable energy privatisation opposed by unions and civil society
Indonesia’s Just Energy Transition Partnership bears the clear handprint of the World Bank’s private-sector led approach to power sectors in the Global South, creating opposition from unions and civil society.
