Challenges in measuring progress were noted for the Forest Investment Program (FIP), in particular greenhouse gas accounting. Investment plans for Mozambique and Ivory Coast have been approved. Questions were raised over the reasoning for a commercial teak plantation project in Ghana.
New edition of the Bretton Woods Project's biannual Climate Investment Funds (CIFs) Monitor, including an update on the Green Climate Fund, published to coincide with the World Bank-hosted CIFs trust fund committee meetings.
New edition of the Bretton Woods Project's biannual Climate Investment Fund (CIFs) Monitor, published to coincide with the World Bank-hosted CIFs trust fund committee meetings.
The rationale for adding new pilot countries to the Forest Investment Program (FIP) given funding constraints has been questioned, as well as the focus on providing loans rather than grants. The CIF strategic directions paper noted challenges for the FIP, and proposed a new private sector window. Questions were raised about the consultation of ethnic minorities in relation to a Laos project.
Six new countries were invited to join the Forest Investment Program (FIP), with a further nine invited to develop investment plans, despite insufficient funds. Potential support for oil palm plantations in Democratic Republic of Congo and industrial logging in Indonesia and Peru were questioned.
Options for potential new funding for the Forest Investment Program have been further elaborated, including priority rankings for current and potential new pilot countries, however, funding constraints remain and many current projects continue to be delayed.
New evidence from Oxfam, the Bretton Woods Project and other NGOs reveals the impact of IFC investments in financial intermediaries on global human rights.
Clean Technology Fund (CTF) funding approvals continue to rise, including private sector projects for geothermal energy. Revisions for investment plans were approved for Nigeria and the MENA region, with Libya added as a new country.
A letter from civil society in response to the IFC's lesson learned briefing
Serious environmental and social concerns have been raised about a Rio Tinto gold mine in Lao PDR which is to receive $30 million from the International Financial Corporation.
World Bank Asia region staff are currently considering whether to move the Nam Theun 2 dam, Laos, to “pre-appraisal stage”.
The World Bank said in late February that it would not guarantee the billion-dollar Nam Theun II dam in Laos until the government commits itself to significant political and economic reforms.
The Nam Theun 2 (NT2) Hydroelectric Project is the largest prospective hydropower project in Lao PDR.