EBRD approves €500 million loan for TAP, as Italy announces it will review its support for project
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.
Scandal raises new questions about World Bank loans for Trans-Anatolian Pipeline (TANAP), after civil society previously raised concerns over human rights violations and the negative environmental impact of the project.
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.
The World Bank has announced its intention to fund the Azerbaijan and Turkey part of the Southern Gas Corridor to Europe, despite concerns over the geopolitical context and fossil fuel dependency.
A UN special rapporteur, CSOs and donor countries have critiqued the lack of human rights in the World Bank's draft new environmental and social framework, as the consultation process has continued to be fraught with difficulty.
While NGO Oxfam criticised the IMF for failing to learn lessons of the past in its approach to European austerity, IMF research on inequality produced findings opposite to IMF programme demands for borrowers.
The IMF has put itself out of step with Europe on the issue of financial transaction taxes.
An act of the Italian Senate on participation in replenishment of international funds and banks, approved by the Foreign Affairs Committee in July, commits the government review to credit mechanisms to include indicators of a country's capacity to achieve the MDGs, end support for water privatisation, advocate an end for fossil fuel support, and report on positions taken by the Italian representatives at the IFIs.
La 13a revisione delle quote del Fondo Monetario Internazionale ha generato un forte dibattito sulla necessit