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.
India
Private Sector
News
“Affordable hotels”: IFC’s luxury development projects
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”.
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.
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.
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.
Private Sector
News
Civil society letter re: the IFC and lessons learned
A letter from civil society in response to the IFC's lesson learned briefing
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.
Infrastructure
Commentary
Tata Mundra: making a mockery of accountability
IFC criticised over Tata Mundra coal power plant in India, for ignoring recommendations from its accountability mechanism.
Environment
Analysis
Clean Technology Fund (CTF)
Updates on the Clean Technology Fund (CTF) from CIFs Monitor 9
Social services
Analysis
Going, going, gone?
IFC accused of “McDonaldisation” of education, with investment in low-fee private schools, despite evidence of negative impacts on inequality.
Private Sector
News
World Bank Group investing in banks before poverty reduction
The World Bank Group invested $36 billion between 2009 and 2013 in the financial sector, three times as much as in education. Investments in financial intermediaries in Honduras and India have been criticised by civil society groups.
Finance
News
Final IDA 17 numbers shrink under scrutiny
The release of the final IDA paper in April confirmed that IDA 17 represents a 7.7 per cent decline in IDA resources. The replenishment saw a loan of $1 billion from China and less generous lending terms for IDA borrowers.
Featured briefings
12 December 2024
The Bretton Woods Observer: Winter 2024
12 December 2024
Missing in action: accountability is noticeably absent from the World Bank Group’s new Corporate Scorecard
The Corporate Scorecard’s accountability gap is symptomatic of a broader failure on the part of the WBG to fully internalise, integrate and learn from the work of its accountability mechanisms.
16 October 2024