Private Sector


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Social services

News

Guyana sued over nationalisation debt

A British company has taken a case to the International Centre for the Settlement of Investment Disputes (ICSID) seeking

26 November 2002

Accountability

News

Lesotho corruption verdict

Following a seven month trial, Canadian company Acres International was convicted on two counts of bribing an official to secure contracts for the Lesotho Highland Water Project, which received financing from the World Bank.

26 November 2002

Rights

News

Bank inspectors find fault with Chad Cameroon pipeline project

The Bank’s own Inspection Panel has backed many of the complaints by non-governmental organizations about a major oil pipeline in West Africa.

17 September 2002

Rights

News

Turkish oil project raises human rights, governance concerns

An agreement between oil multinationals and the government of Turkey for an IFC-backed pipeline exempts the companies from obligations under Turkish law that may threaten the project’s profits, including environmental, social and human rights legislation.

17 September 2002

Accountability

News

Bank’s pledge to fight corruption put to test

Allegations of corruption made against Bank-backed projects in Lesotho, Uganda and Kenya have raised questions about the Bank’s recent anti-corruption crusade. A report from Mozambique complains that the Bank is rewarding “good performance” by allowing corruption.

24 July 2002

Private Sector

News

BP mega oil project may get “big bucks” from WB

Despite threats to the environment and fears of over-dependence on oil market vagaries, BP may receive as much as $500 million from the World Bank to build an 1,100 mile trans-Caucasus pipeline.

24 July 2002

Infrastructure

News

Doubts strengthen on private power provision

Despite corporate scandals and increasing wariness of private investors of getting involved in power projects in developing countries, the Bank is tripling its funding of power projects. Two new reports from the Transnational Insitute and the World Resources Institute challenge the claims of the advocates of power liberalisation.

24 July 2002

Infrastructure

News

World Bank was “Enron pawn”

A report released by the Institute for Policy Studies (IPS) claims the World Bank provided over $750 million in assistance to Enron power projects in seven different countries in the 1990s.

8 May 2002

Private Sector

News

Sustainability report out of step with Bank managers, companies

The World Bank finally released a draft World Development Report on sustainable development at the beginning of April. Commentators gave the report a mixed reception. While some praised its recognition of the political and social context of sustainability, critics charged that the Report is far behind current thinking on climate change and fails to adequately address the role of rich countries in fostering sustainable development.

8 May 2002

Private Sector

News

Secret meeting of global powerful on WTO

The Evian Group held its annual meeting in Montreux, Switzerland, last month inviting a select group of business executives, policy makers, academics and opinion makers.

8 May 2002