The Fund has had to conduct another embarrassing “U-turn” to warn of the growing risks to the stability of developing countries, while cautiously accepting the need for capital controls in principle, but not necessarily in practice.
Newly emerged internal documents from the World Banks’ own legal unit reveal strong criticism of the controversial Doing Business rankings following the independent review panel’s critical final report in June.
Bank president Jim Yong Kim has publicly prioritised universal health coverage and education however, critics worry about increased support for private companies to deliver these services.
Indian civil society coalition the People's Front against International Financial Institutions held a People's Forum and demonstrations against the annual meetings of the Asian Development Bank (ADB) in Delhi in early May.
The session focused on the World Bank's development strategy, poverty eradication goals, global inequality, and the threat of climate change.
As an independent panel begun its review of the World Bank’s controversial Doing Business rankings, India’s public criticism of the rankings added weight to global governmental and civil society opposition.
A November field study by Indian NGO the Research Collective has found that an International Finance Corporation (IFC, the Bank's private sector arm) supported coal-power plant run by GMR Kamalanga Energy Limited (GKEL), financed through a financial intermediary, has caused water pollution in the Odisha region.
The Bank's compliance body, the Inspection Panel (IP), has received a request for inspection from farmers who reforested land in India as part of a Bank carbon sequestration project
An early June statement from 26 social movements and NGOs in India have called the World Bank's plans for civil society consultation on the Bank's country assistance strategy (CAS) for India a "farce".
As debates continue at the World Bank about its lending for new coal-fired power plants, residents of the Indian district of Singrauli, the country's coal capital, still live with the lasting social and environmental impacts of decades of coal-related projects and ask why the Bank has never returned to fully address what has been left in the wake of its investments in the region.
Notes of a panel discussion, Washington DC, 20 September 2011
Notes of meeting, Washington DC, September 21, 2011