IFC investments through financial intermediary investments linked to land grabs and displacement in Africa. CSOs critique proposed changes to IFC lending policies.
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.
A World Bank report calling for closer collaboration between mining and energy companies in Africa is criticised for underplaying risks and neglecting more efficient energy options for the poor.
IMF conditionalities attached to loans to Liberia, Sierra Leone and Guinea drained health services, damaging countries’ ability to handle the recent Ebola crisis.
Civil society groups criticise IFC investments worth hundreds of millions of dollars in mining projects in Guinea, Mongolia and Armenia for potential negative social and environment impact.
The Bretton Woods Project review of the most important developments at the World Bank and IMF in 2013.
New concerns have been raised on the World Bank’s involvement in the Simandou mine in Guinea, including on the use of biodiversity offsets, while civil society has repeated unaddressed concerns on the Mongolia Oyu Tolgoi mine. Further concerns have been raised on mines in Dominican Republic, Peru and South Africa.