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.
Latin America & Caribbean
Accountability
Analysis
Conflict-affected states, IFC’s final frontier
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.
Finance
News
UN backs sovereign debt mechanism
UN votes to adopt developing countries’ resolution on a legal framework for debt resolution, independent of creditors, including the IMF.
Environment
News
IFC criticised over Peruvian mine investment
IFC’s accountability mechanism has criticised a series of errors in IFC’s social and environmental risk management of its Peruvian Quellaveco mine investment.
Rights
News
CAO to assess two new Dinant complaints
The Compliance Advisor Ombudsman will assess two new complaints related to the IFC's controversial investment in Honduran palm oil company Dinant.
Knowledge
News
Who’s poor? New estimates of PPPs led to halving of World Bank’s poverty numbers
A May World Bank-led statistical operation has used a new method to estimate purchasing power parities, allowing it to more than halve the estimated number of people living on below $1.25 per day.
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.
Finance
Analysis
IFC statements welcome but concrete action needed
Bretton Woods Project response to IFC executive vice president Cai’s Bank blog challenges the IFC’s commitment to address systemic problems.
IFI governance
Analysis
A major political move: the BRICS launch the New Development Bank and a reserve arrangement
A new article, co-written by Eurodad and the Bretton Woods Project, analyses the BRICS' newly launched bank and reserve arrangement.
Infrastructure
Analysis
The rise of the infrastructure giants
World Bank faces increased competition over large scale infrastructure in Asia, with the Asian Infrastructure Investment Bank and the BRICS Bank.
Private Sector
Analysis
IFC: Learning lessons or institutional amnesia?
In response to the IFC’s shaming over its involvement with Dinant corporation in Honduras, the institution produced a “lessons learned” document. However, it has been rejected by campaigners, who are demanding more fundamental reform.
Trade
News
ICSID problems in the spotlight
Civil society challenges ICSID role in El Salvador mining dispute as international lawyer accuses the arbitration forum of being “seriously flawed”
