Bretton Woods Observer
Winter 2024
COP29 sees MDBs climate finance take centre stage, as civil society brands new climate finance goal a ‘betrayal’
Rich countries agree to provide a paltry $300 billion in public finance by 2035 including funds channelled through MDBs, as Small Island States and Least Developed Countries stage walkout.
The B-Ready index: the World Bank’s bluewashing of labour rights
World Bank’s new Business-Ready (B-Ready) index offers new measures but reductionist approach, ultimately rewarding countries driving down labour rights in…
Missing in action: accountability is noticeably absent from the World Bank Group’s new Corporate Scorecard
The Corporate Scorecard’s accountability gap is symptomatic of a broader failure on the part of the WBG to fully internalise,…
Who’s afraid of the grassroots? IMF policymaking in the era of social discontent
IMF proposes a grassroots communication strategy to convince the public of the need for further austerity measures as publications reveal…
World Bank goes full steam ahead on agribusiness, but new CAFOD report highlights gendered harms of Bank’s approach
Under President Banga, the World Bank is going full steam ahead on agribusiness financing with a $9 billion annual commitment by 2030, but a CAFOD report highlights harmful gendered impacts of current approach to commercialising farming.
MIGA’s new guarantee for voluntary carbon markets risks shielding big polluters
CSOs warn MIGA’s proposal at COP29 to de-risk carbon markets for private investors could shield polluters from accountability, leaving local communities to bear the costs.
New report debunks claims that inadequate MDB transparency results from private sector concerns
Amid underwhelming private capital mobilisation, new report underscores poor state of transparency and disclosure of private sector finance by multilateral development banks and development finance institutions.
IMF’s PRGT review places the burden of financing the program on low-income countries
As the IMF increases cost of lending for LICs by introducing a tiered interest mechanism to the PRGT, CSOs and V20 Group call instead for an SDR interest rate cap to reduce the cost of lending and for sale of gold reserves to address the funding gap.
World Bank’s Mission 300: a path to power, for whom?
Bank’s focus on attracting private investment through energy privatisation raises concerns, as it puts private profits over sustainable energy systems, burdening governments with debt and making electricity less affordable for citizens.
IDA21 cobbles together $100 billion replenishment in context of wider aid cuts
Amid concerns about the policy package, IDA’s 21st replenishment showed difficulty of mobilising donor finance through elections and geopolitical tensions.
CAO report adds to concerns about IFC’s compliance with its own GHG emissions obligations
CAO report substantiates civil society findings about IFC’s failure to comply with its own requirements for GHG emissions measurement, alternatives analysis, mitigation and disclosure.
BWIs use frozen Russian assets as part of $50 billion support to Ukraine
BWIs engineer creative ways to provide financial support to Ukraine using frozen Russian assets as back up, in contrast to lack of support for debt-stricken African countries.
UN’s Fourth Financing for Development Conference takes place at key moment for international financial architecture reform
Civil society Financing for Development (FfD) Mechanism calls for FfD4 conference to deliver meaningful reform and a true path towards democratic multilateralism.
Trump election may add pressure to reverse World Bank’s prohibition on support for nuclear power
Donald Trump’s election may result in a revision of World Bank’s long-standing prohibition of support to nuclear power.
