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
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.
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.
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.
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.
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.
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.
Environment
News
Tanzanian authorities attempt to silence activists on Bulyanhulu case
Tanzanian authorities have arrested Rugemeleza Nshala, President of the Lawyers Environmental Action Team (LEAT), and raided the house of another LEAT lawyer, Tundu Lissu in connection with their investigations into abuses and irregularities at the World Bank-backed Bulyanhulu gold mine.
Infrastructure
News
Ugandan dam approved
In late December the World Bank approved the Bujagali dam, Uganda.
