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India

Private Sector

Background

What is the International Finance Corporation (IFC)?

This Inside the Institutions explores the International Finance Corporation (IFC), the World Bank Group’s private sector arm. It examines the function of the IFC as a development institution focused solely on private sector solutions to development and considers civil society critiques.

3 July 2024 | Inside the institutions
Apollo Hospital, Dhaka, 2014

Accountability

News

Another day, another IFC scandal

A Telegraph exposé unveils how a private hospital group in India which received £120 million in IFC investment since 2005 was running an illegal organ trading scheme, adding to a growing number of IFC-funded scandals.

9 April 2024

Environment

Analysis

Gambling with the planet’s future? World Bank Development Policy Finance, ‘green’ conditionality, and the push for a private-led energy transition

BWP's review of energy sector conditionality in World Bank Development Policy Financing from fiscal years 2018 to 2023 reveals the Bank has followed a pattern of promoting neoliberal reforms in many countries' energy sectors, with climate action increasingly being viewed as the rationale for these changes.

9 April 2024 | Briefings

Accountability

News

UDHR and IPN anniversaries underscore urgent need for Human Rights policy at all IFIs

World Bank and IMF shareholders must use the anniversaries of the Inspection Panel and the Universal Declaration of Human Rights respectively to demand both establish human rights policies and meet their international obligation to provide remedy

19 July 2023

Land

Analysis

World Bank and IMF’s response to global food crisis misses mark, as financial speculation drives food prices to historic highs

Action plan launched by Bretton Woods Institutions and other IFIs ignores role of corporatisation of agriculture in contributing to current crisis.

21 July 2022

Accountability

Analysis

Ending “absolute immunity” for the International Finance Corporation: The legacy of Jam v. IFC

EarthRights International examines how the Jam v. IFC case has helped to shift the landscape of accountability for international financial institutions by successfully challenging their claim to “absolute” immunity in US courts, potentially opening IFC up to further legal challenges in future.

21 July 2022 | At Issue

IFI governance

Analysis

IMFC communiqué analysis – Spring Meetings 2021

Analysis of the IMFC communiqué published on 8 April from the 2021 World Bank and IMF virtual Spring Meetings.

13 April 2021

Finance

Analysis

G20 communiqué analysis – Spring Meetings 2021

Analysis of the G20 communiqué published on 7 April from the 2021 World Bank and IMF virtual Spring Meetings.

12 April 2021
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Other news

IFI governance

Background

When exits and accountability collide: What happens when IFC exits projects mid-accountability process?

Notes from Civil Society Policy Forum on Thursday, 18 April titled, "When exits & accountability collide: What happens when IFC exits projects mid-accountability process?"

18 April 2024 | Minutes

Social services

News

Malpass makes World Bank a pariah with opposition to TRIPS waiver

World Bank President comes out against temporarily waiving intellectual property rights on Covid-19 vaccines

13 July 2021

Private Sector

News

B-Ready for more ill-founded private-sector solutions

The World Bank released a concept note of Doing Business report replacement, B-Ready project, ignoring civil society demands of an independent evaluation.

19 July 2023

Social services

News

Civil society hails IFC’s divestment from for-profit education provider Bridge International Academies

The divestment follows a 2020 freeze in new IFC direct and indirect investments in for-profit education providers.

6 April 2022

Social services

News

Global Day of Action against the IMF and World Bank rejects corporate recovery agenda

Civil society day of action rejects corporate agenda and greenwashing in World Bank and IMF Covid-19 recovery.

9 December 2021

Environment

Background

Why climate transition risks are macro-critical: The IMF and enabling a green recovery

Notes from the virtual Civil Society Policy Forum event on 30 March.

30 March 2021 | Minutes

Accountability

News

Struggle for IFC accountability for Tata Mundra continues despite landmark immunity ruling

IFC continues to avoid responsibility for its investments in Tata Mundra coal power plant as US federal court rules that harmful acts took place outside the United States.

6 October 2020

Rights

News

IFC announces changes to environmental and social framework after loss of immunity in the US

IFC announces changes to environment and social safeguards after historic United States Supreme Court ruling.

30 July 2019
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