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.
V20 members offered a searing indictment of rich countries’ failure to act on BWIs governance, debt relief, climate finance and SDRs.
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.
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.
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.
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.
Notes from Civil Society Policy Forum on Thursday, 18 April titled, "When exits & accountability collide: What happens when IFC exits projects mid-accountability process?"
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.
Despite the World Bank’s commitment to move away from funding coal, a series of loopholes in its financial intermediary lending remain that will continue to allow finance to support coal power projects.
V20 seeks confirmation of official observer status at the Bretton Woods Institutions by COP28, as IMF quota review fails to give greater voting power to climate vulnerable countries.
Despite lofty rhetoric, Bank’s attempts to use scarce concessional finance to build investable project pipelines to secure power sector decarbonisation faces significant hurdles.
The World Bank released a concept note of Doing Business report replacement, B-Ready project, ignoring civil society demands of an independent evaluation.
