Despite making some positive changes, the IMF and World Bank Debt Sustainability Framework review has ignored fundamental issues, as risk of new crises persist.
New research reveals that Bank’s private sector arm, the IFC's Heath in Africa initiative is benefitting wealthy elites not the poorest.
Clean Technology Fund (CTF) funding approvals continue to rise, including private sector projects for geothermal energy. Revisions for investment plans were approved for Nigeria and the MENA region, with Libya added as a new country.
Drawing on case studies, reports and evaluations, Bruce Rich paints a picture of a Bank still inflicting suffering on vulnerable populations, and calls on Bank president Jim Yong Kim to show real leadership so that the Bank can learn from experience rather than flee from it.
A letter from civil society in response to the IFC's lesson learned briefing
Chadian president Idriss D
Bank freezes Chad's funds following government violation of agreement with Bank over the Chad-Cameroon oil pipeline
A new report from corruption watchdog Transparency International indicates that despite improved efforts by the World Bank on corruption ahead of other regional development banks, there is still a striking inconsistency between the discourse and practice of the Bank. A new US anti-corruption bill and an oil revenue agreement with Chad are the latest tests.
The Bank’s claim that the Chad-Cameroon oil and pipeline project proves that petro-dollars can benefit the poor is undermined by the claims of local communities and NGOs who cite numerous examples of violations of social and environmental safeguards.
Civil society organisations globally have stepped up their campaign against the International Finance Corporation's process to overhaul its safeguard policies.