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.
Private Sector
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.
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.
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.
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.
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.
Accountability
News
Bujagali dam affected by Enron-fallout
U.S. power company AES Corp. has been forced to delay building the $550 million Bujagali dam, Uganda, because of a financing shortfall.
Social services
News
Company seeks compensation after Bolivians force re-nationalisation
US multinational Bechtel is seeking compensation from the Bolivian government after protests forced the cancellation of its contract to provide water in Cochabamba. The case has been accepted by the International Centre for the Settlement of Investment Disputes, a little-known arm of the World Bank Group. Campaigners are preparing to challenge the process.
Accountability
News
Bank downplays Lesotho dam corruption
The World Bank has recently announced that it will not be taking action following allegations of corruption levelled at corporate clients in Peru and Lesotho. The Peru goldmine and Lesotho dam cases lead some Bank-watchers to question the Bank’s high-profile commitment to rooting out corruption.
Social services
News
Ghanaians contest Bank-backed water privatisation
A broad coalition of organisations is challenging the plan to privatise Ghana’s water system. They complain that the World Bank and IMF-promoted scheme will not extend services to poorer people or ensure fair pricing. The deal - which the IMF has just made part of its new conditions for Ghana - reflects the biases of the consultants which drew it up at a cost of $3million.
Featured briefings
27 September 2023
Financialisation and human rights in the Middle East and North Africa
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.
19 July 2023
The Bretton Woods Observer: Summer 2023
3 July 2023
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.