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.
East Asia & Pacific
The upcoming Clean Technology Fund (CTF) resource shortfall continues to raise concerns. A proposal for “CTF 2.0” will be discussed, including two proposed modalities: CTF Green Markets and the Risk Mitigation Facility. Concerns were raised over safeguards for a geothermal energy project in Indonesia.
The Pilot Program for Climate Resilience (PPCR) has called for urgent donations to be able to finance projects pending approval. The CIF strategic directions paper proposed for a new private sector window to be set up. Concerns were raised about community consultations in Samoa and around resettlement risks related to a Haiti project.
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.
Concerns continues over slow progress in implementing the Scaling up Renewable Energy Program in Low Income Countries (SREP) investments plans and lack of funding for new pilot countries, as well as constraints on grant resources. The CIF strategic directions paper proposed an enhanced private sector programme for energy access. Questions on consideration of indigenous peoples were raised in relation to Liberia and Tanzania projects.
An IMF policy paper on the international monetary system considers its future policy on capital controls and proposes a review of the IMF's institutional view on the liberalisation and management of capital flows.
The Inspection Panel has deferred a decision to investigate a complaint regarding environmental, social and economic damage related to a World Bank funded mining project in Mongolia.
This briefing notes that recent reforms to the IMF and World Bank governance and the establishment of new Southern-led IFIs are symbolically important, however, they are thus far not a rupture with the Western-dominated international financial architecture.
Evictees and affected families of Cambodia's Boeng Kak and Borei Keila neighborhoods have called on the World Bank to leave Cambodia, as lending programme resumes.
This briefing examines the trajectory of China's evolving leadership in international development finance, including the impact of it's massive increase in development finance for developing countries.
This Inside the Institutions examines the recent and ongoing reforms at the IMF and World Bank, and places them in context of existing structures and processes.
The best books and papers on the World Bank and IMF from 2015.