Initial financing for Costa Rica, Barbados, Rwanda, Bangladesh and Jamaica tied to efforts to ‘green’ PPP frameworks.
Environment
Infrastructure
Analysis
World Bank and IMF influence casts shadow over South Africa’s Just Energy Transition Partnership
World Bank’s support for fossil fuel projects, including problem-riddled Medupi coal power station, leaves its reputation in tatters with South African civil society.
Finance
News
A different ‘evolution roadmap’: Havana conference calls for changes in world order hierarchy
As IMF and World Bank tinker at margins, 50 policymakers, diplomats and academics from over 26 countries issue Havana Declaration calling for an assertion of Southern power and the building of a new "planetary bloc".
Infrastructure
News
MIGA’s support for gas projects raises concerns about its climate credentials
World Bank’s commercial insurance arm provided nearly $850 million in guarantees for gas projects in Bangladesh and Mozambique in fiscal year 2022.
IFI governance
Analysis
IMF quota review: Putting climate at the core of IMF governance reform
Addition of cumulative carbon emissions indicator in IMF quota formula would give climate-vulnerable countries greater voice in IMF.
Environment
Commentary
Bridgetown Initiative calls for new Global Climate Mitigation Trust financed via Special Drawing Rights
IMF’s lending instruments fail to provide swift and large-scale funding for climate transition. The Bridgeton Initiative proposes a new trust backed by $500 billion in SDRs for climate and development.
Environment
News
World Bank’s update on Paris alignment fizzles at COP27 as countries demand MDBs evolve to face climate emergency
Despite continued public rhetoric about importance of civil society engagement, Bank is yet to commit to holding a public consultation period on its Paris alignment approach.
Rights
News
A new SDR allocation: Combatting deepening fragility concerns
The links between high debt burdens, lack of climate finance, austerity and the rise in political instability and fragility, conflict and violence remain largely neglected as IMF shareholders consider calls for a new SDR allocation, as proposed by the Bridgetown Agenda.
Finance
Commentary
Civil society organizations urge end to IMF surcharges to finance climate action instead
More than 300 organisations and individuals call upon the IMF to urgently address one of the most glaring and easily rectifiable contradictions between its stated support for a just transition and its actions by immediately ending its surcharge policy.
IFI governance
Background
Greening whole economies? Unpacking World Bank plans for Paris alignment by July 2023
Notes from a Civil Society Policy Forum event on 14 October titled "Greening whole economies? Unpacking World Bank plans for Paris alignment by July 2023."
