A new report finds widespread use of tax havens by World Bank clients, while the new Bank policy is criticised for having major loopholes.
The World Bank has revealed that the planned period for updating its environment and social safeguard policies, which it aims to consolidate into one single policy, has been extended to December 2013
A letter to all World Bank governors calling for reforms to the selection process for a new World Bank president signed by over 50 civil society groups
Civil society organisations met UK Executive Director to the World Bank and staff from the Department for International Development to discuss water, the Bank's private sector approach, health and nutrition, safeguards review and energy strategy.
The World Bank, in conjunction with the G20, is prioritising massive, cross-border infrastructure with private sector involvement, but has failed to involve any local communities.
The Climate Investment Funds (CIFs) are financing instruments designed to pilot low-carbon and climate-resilient development through the multilateral development banks (MDBs). They are comprised of two trust funds - the Clean Technology Fund (CTF) and the Strategic Climate Fund (SCF).
The Independent Evaluation Office (IEO) found major IMF lapses in judgement before the financial crisis, including the promotion of "light-touch regulation", casting doubt on the Fund's ability to contribute to taming global finance.
The World Bank’s arms-length Independent Evaluation Group (IEG) released its annual report, Results and performance of the World Bank Group in November last year.
The World Bank gained a 12 per cent inflation adjusted increase from the 16th fundraising round for its low-income country arm, the International Development Association (IDA), despite flat donor contributions, amid renewed criticism of its overall approach.
Civil society groups have challenged Bank plans to rush through a new lending instrument, Program-for-Results, that would mean safeguards or equivalent standards no longer apply to a major portion of Bank lending. Meanwhile, a secretive review could strip the Bank's accountability bodies of their independence and safeguards could be scaled back for projects deemed "low risk".
Civil society groups have accused the World Bank of failing to foresee or respond to human rights abuses in the Bank-sponsored Baku-Tbilisi-Ceyhan (BTC) oil pipeline in the Caucasus and Turkey, just as the Bank announces a boost in investments in extractive industries.
The UK government's review of multilateral aid endorsed the World Bank, despite identifying major institutional weaknesses.
New briefing by ActionAid USA and the Bretton Woods Project highlights research showing that IMF policy advice has undermined a just energy transition since the Paris Agreement was signed.
