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
East Asia & Pacific
Protesters demonstrated their frustration with the new draft safeguards framework by walking out of a World Bank consultation, as an extension is announced to the second phase of the consultation process.
This week, the Green Climate Fund (GCF) gathers in Barbados for the eighth meeting since its inception.
World Bank’s new draft environmental and social framework is criticised as a step backwards that could lower the standards for the international development community.
Notes of a meeting on Myanmar's transition to full country partnership at the World Bank/IMF annual meetings 2014
Notes of a meeting on IFC lending through financial intermediaries at the World Bank-IMF annual meetings 2014
Notes of a meeting on governance and impact report 2014 at the World Bank-IMF annual meetings 2014
Notes of a meeting on emerging markets in transition at the World Bank-IMF annual meetings 2014
Notes of a meeting with CSOs on land rights and resettlement at the World Bank-IMF annual meetings 2014
The IFC is set to expand operations in fragile and conflict-affected states such as Burma, despite indications that systemic problems identified in Honduras persist.
IFC investments in Burma hotels have been criticised for weak poverty reduction impact. IFC claims that investment in luxury hotels in India will provide “affordable hotels”.
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.