Funding shortfalls are predicted for the Pilot Program for Climate Resilience (PPCR), as ideas for potential new funding are due to be discussed.
Cambodia
Environment
Analysis
Scaling up Renewable Energy Program (SREP)
Fourteen new countries were accepted to the Scaling up Renewable Energy Program in Low Income Countries (SREP). Programme implementation continues to be slow, with expected co-financing often dropped.
Accountability
Analysis
Moving beyond aspirations? IFC still unable to determine the impact of its financial intermediaries investments
A new monitoring report by the Compliance Advisor Ombudsman concludes that the IFC still lacks a mechanism to determine whether its financial intermediaries investments do no harm or have a positive development impact
IFI governance
News
Accountability mechanism strongly criticises IFC loan to Honduran bank
An audit by the IFC’s accountability mechanism says the IFC failed to adequately address environmental and social risks when it approved a $70 million loan to Honduran bank Ficohsa.
IFI governance
Background
IFC lending through financial intermediaries - a year on from the action plan, what have we learned?
Notes of a meeting on IFC lending through financial intermediaries at the World Bank-IMF annual meetings 2014
IFI governance
Background
CSO land rights and resettlement
Notes of a meeting with CSOs on land rights and resettlement at the World Bank-IMF annual meetings 2014
Land
News
CAO investigation: IFC-linked rubber firm project paused
An IFC-linked Vietnamese rubber plantation company agreed to temporarily suspend activities in three Cambodian plantations, but activists urged the company to cease its activities in all communities.
Private Sector
News
Civil society letter re: the IFC and lessons learned
A letter from civil society in response to the IFC's lesson learned briefing
Rights
News
World Bank accused of resettlement “cultural genocide”
A series of high-profile eviction cases in Kenya, Nigeria and Cambodia has exposed the World Bank’s failure to protect the human rights of communities supposed to benefit from its projects, prompting widespread international condemnation.
Private Sector
Analysis
IFC funding to financial intermediaries: unfit for purpose
An IFC investment in ANZ Royal Bank has been criticised after the bank was implicated in a “massive land grab” in Cambodia. Further cases from Guatemala and Honduras reinforce calls for IFC to rethink its investments in financial intermediaries.
Private Sector
News
Response letter to the head of IFC Jin-Yong Cai re: IFC investment in the financial sector
This letter was written to respond to an IFC 6 January 2014 reply to a November 2013 civil society letter about the International Finance Corporation’s action plan to reform lending to the financial sector. The 26 groups signed on to the letter believe the IFC’s action plan is inadequate and urge the head of the IFC to do more to address the audit’s findings.
Finance
Analysis
The IFIs in 2013: year in review
The Bretton Woods Project review of the most important developments at the World Bank and IMF in 2013.
