IFC equity investment linked to development of key Brazilian transport corridor, leading to accelerated deforestation in the area.
Civil society organisations call on World Bank Group to do more to prioritise forests and forest peoples’ rights.
The IFC’s push for the PPP model, as well as its preference for healthcare ‘provision’ and the results-based payment approach, collectively undermine the human right to universal healthcare and the achievement of the SDGs.
The World Bank has announced funding for the controversial Southern Gas Corridor, while exiting two other high profile but problematic megaprojects, Inga 3 in Democratic Republic of Congo and Simandou in Guinea.
Investments by the World Bank-hosted Global Financing Facility (GFF) do not reflect the family planning priorities identified by developing countries and local communities. The GFF also continues to suffer from a lack of transparency and meaningful civil society participation, raising doubts about the new mechanism’s effectiveness.
Challenges in measuring progress were noted for the Forest Investment Program (FIP), in particular greenhouse gas accounting. Investment plans for Mozambique and Ivory Coast have been approved. Questions were raised over the reasoning for a commercial teak plantation project in Ghana.
New edition of the Bretton Woods Project's biannual Climate Investment Funds (CIFs) Monitor, including an update on the Green Climate Fund, published to coincide with the World Bank-hosted CIFs trust fund committee meetings.
New edition of the Bretton Woods Project's biannual Climate Investment Fund (CIFs) Monitor, published to coincide with the World Bank-hosted CIFs trust fund committee meetings.
The World Bank has suspended funding for the much criticised Inga 3 hydro power project in the Democratic Republic of Congo.
Minutes from a World Bank sponsored event on the new World Bank Group strategy during the 2013 WB/IMF annual meetings.
The ongoing rehabilitation of the Inga dams in the Democratic Republic of the Congo, which receives financial assistance from the World Bank, will be delayed for three years.
the IFC has offloaded its 3.35 per cent equity stake, worth up to $7.5 million in the Singapore-based global commodities trader, Olam International
The findings of an Inspection Panel investigation into the Bank's failure to comply with its own safeguard policies in its support for forest sector reforms in the Democratic Republic of Congo (DRC) was discussed by the board in January
Minutes of meeting
NGOs have called on the Bank to investigate two mining contracts between the Democratic Republic of Congo's state mining company and two British Virgin Island-based companies.
A preliminary investigation by the Inspection Panel has reveled serious concerns about Bank programmes to develop the rainforests of the Democratic Republic of Congo.