Bretton Woods Bulletin
May 2014
Ballroom dancing in Bolivia: IFC investments remain questionable
IFC invests in another five-star hotel, raising further questions whether its investments lead to positive development outcomes.
IFC publishes new action plan on Dinant issues in Honduras
The IFC publishes an updated action plan on its controversial investment in oil plant company in Honduras.
IEO technical assistance review reveals outstanding issues
IEO update of a previous 2005 evaluation on IMF technical assistance reveals outstanding issues.
World Bank to “pick its battles” on LGBT rights
The World Bank’s April spring meetings saw its first involvement with LGBT rights creating controversy in the media and civil society.
World Bank fossil fuel exploration reached new high in 2013
A civil society report has found that the World Bank continues to invest significantly in fossil fuel extraction despite climate change.
Going, going, gone?
IFC accused of “McDonaldisation” of education, with investment in low-fee private schools, despite evidence of negative impacts on inequality.
Corporatising agriculture
World Bank’s Benchmarking the Business of Agriculture rankings are unlikely to benefit the world’s smallholder farmers, but could instead facilitate corporate land grabs.
Bad aid
A health public-private partnership is starving Lesotho’s public health services of resources, affecting rural communities, where death rates are rising.
World Bank Group investing in banks before poverty reduction
The World Bank Group invested $36 billion between 2009 and 2013 in the financial sector, three times as much as in education. Investments in financial intermediaries in Honduras and India have been criticised by civil society groups.
World Bank to push ahead with Global Infrastructure Facility
The World Bank has confirmed its intention to develop a Global Infrastructure Facility, prioritising projects that have stalled due to size or complexity, while concerns continue over the Bank’s support for the Democratic Republic of Congo Inga dams.
Developing countries seek new path for Fund governance reform
2010 agreement to reform IMF voting shares in favour of developing countries flounders as IMF governance reforms blocked by US Congress, again. Developing countries expressed anger and raised concerns about the Fund’s ability to deal credibly and effectively with new and ongoing financial crises.
Final IDA 17 numbers shrink under scrutiny
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.
World Bank appoints leaders of global practices, CAO
The World Bank has appointed 16 senior staff members to lead the global practices created as part of the Bank’s restructuring process.
