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.
Private Sector
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
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.
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.
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.
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.
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.
