This briefing explains how the IMF and World Bank have driven the financialisation of MENA states, and the pervasive negative effects this has had on the region’s societies and economies.
Private Sector
Finance
Analysis
The IMF and World Bank talk good governance, but walk with state- capturers
Finance
Commentary
Financial liberation has had a significant effect on Uganda’s economy opening the door for significant foreign ownership while facilitating the ongoing extraction of wealth.
Finance
Commentary
Financial liberalisation, capital controls and development in Africa: The case of Uganda
Finance
Analysis
World Bank Evolution Roadmap’s proposed superficial technical patches favouring the ‘logic’ of the market will likely fail to deliver the structural changes needed to support borrowing countries amidst global crises.
Finance
Analysis
World Bank Group Evolution: Technical fixes or urgently needed reform?
Finance
Analysis
Civil Society calls for rethink of World Bank’s ‘evolution roadmap’ as part of wider reforms to highly unequal global financial architecture
Joint civil society briefing paper highlights concerns with the World Bank’s Evolution Roadmap, and provides a series of recommendations for a Roadmap that prioritises people, participation and the planet over profit and economic growth.
Environment
News
Resilience and Sustainability Trust’s first loans promote climate PPPs, raising concerns they may create fiscal risks
Initial financing for Costa Rica, Barbados, Rwanda, Bangladesh and Jamaica tied to efforts to ‘green’ PPP frameworks.
Private Sector
News
World Bank’s financial inclusion agenda blind to growing gendered over-indebtedness
The World Bank’s financial inclusion agenda in time of cost-of-living crisis, austerity and financialisation promotes indebtedness of the poor, especially women.
Social services
News
World Bank issues new guidance on PPPs legal frameworks, ignoring long-standing concerns with the model
New World Bank guidance on PPP legal frameworks evidence of institution’s continued reliance on PPPs as key to addressing SDG financing gap despite well-documented failures. Previous World Bank PPP contracts template criticised for incompatibility with human rights norms.
Private Sector
Analysis
How IMF and World Bank support for financialisation undermines human rights
IMF and World Bank policies and programmes work in tandem to expand and deepen financialisation, exacerbating the inequality crisis and harming human rights, financial stability and democratic governance
Private Sector
News
World Bank’s re-labelled Business Enabling Environment Project does little to address substantial flaws of Doing Business Report
Civil society calls for urgent evaluation of Doing Business impacts as the World Bank announces a rebranded Business Enabling Environment Project, failing to address underlying issues.
Private Sector
Commentary
Submission to the World Bank Consultation for the Business Enabling Environment (BEE) Project
A coalition of CSOs have delivered a submission to the World Bank raising the BEE is just a rebranding exercise that does not address longstanding issues in the Bank's engagement in private sector advice.
Other news
Private Sector
News
B-Ready for more ill-founded private-sector solutions
The World Bank released a concept note of Doing Business report replacement, B-Ready project, ignoring civil society demands of an independent evaluation.
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.
Land
News
Corporations are expanding control over Ukraine’s land with help from the IMF and the World Bank
New report from the Oakland Institute exposes the stealth take-over of Ukrainian agricultural land known as the “breadbasket of Europe”.
Social services
News
World Bank’s IFC ends funding for fee-paying primary and secondary schools
Independent Evaluation Group report highlighted private sector education provision can exacerbate inequality and undermine the public sector school system.
Private Sector
Background
Private sector accountability in times of crisis
Notes from the virtual Civil Society Policy Forum session on 29 March.
IFI governance
Background
An economic future for whom? The Cascade/MFD and recovery
Notes from the virtual Spring 2021 Civil Society Policy Forum on 25 March 2021.
Knowledge
News
Doing Business Report to be published after temporary suspension over data irregularities
World Bank plans to publish latest DBR in March and undertake an external review of the report’s methodology.
Social services
Background
World Bank Group’s ‘Maximizing Finance for Development’ in times of Covid-19
Notes from the virtual Civil Society Policy Forum at the 2020 World Bank and IMF Annual Meetings 5 October session on the World Bank's 'Maximizing Finance for Development' and the Covid-19 response.