Last week, at the One Planet Summit in Paris, World Bank President Jim Yong Kim announced that the World Bank will cease funding upstream oil and gas after 2019. BIC welcomes this commitment from the World Bank, but cautions that the there is still more work to be done to climate-proof the Bank’s portfolio. This …
After several months of negotiations, and the announcement of a record $75 billion replenishment for the World Bank’s fund for the poorest countries, the final IDA18 replenishment report was publicly released in late January, 2017. The agreement to fund the World Bank’s soft-loan window comes at an uncertain time for development aid in the …
A Forest of Money? – PDF Today, BIC is publishing a translation of an important study on international finance for forests in Peru, titled “Un Bosque de Dinero” or “A Forest of Money” in English, which was written in collaboration with Derecho, Ambiente y Recursos Naturales (DAR). This extensive study examines financing from Multilateral Development …
Out of control: The World Bank’s reckless private sector investments in Southeast Asia exposed (March 17, 2017) – Dozens of harmful and high-risk projects in Southeast Asia have received hidden funding from the World Bank Group, an ongoing investigation by Inclusive Development International has revealed. The International Finance Corporation (IFC), the World Bank’s private-sector …
BIC Rebuttal to the World Bank’s Response to BIC’s case studies on Development Policy Operations in Peru, Egypt, Mozambique, and Indonesia March 2017 In January 2017, the Bank Information Center (BIC) along with international and local partner organizations published a report and four case studies on seven World Bank policy lending investments in Peru, Egypt, …
Lima, Peru. January 24, 2017 Summary On January 24th, 2017, Bank Information Center, Derechos Ambiente y Recursos Naturales (DAR) and AIDESEP (Interethnic Association of the Peruvian Amazon) presented a workshop titled “Reformas Globales y Alcances Nacionales” to an audience of approximately 50 participants from Peruvian civil society, including representatives from AIDESEP’s executive leadership and its …
Clearing for a coal mine, Central Kalimantan forest Credit: Andrew Taylor/WDM, taken on June 8, 2013 Licensed under:https://creativecommons.org/licenses/by/2.0/ PRESS RELEASE: World Bank introducing new fossil fuel subsidies, undermining its own climate change commitments and forest protection efforts New analysis of Bank’s $5-billion-dollar policy loans shows lender supporting investment incentives for coal and other fossil fuel …
The World Bank Group is covertly funding some of India’s largest and most reckless corporations, according to the results of an ongoing investigation by Inclusive Development International. The World Bank’s private-sector arm, the IFC, is bankrolling these companies through its support for six Indian commercial banks. The end users of IFC funds in India are …
SECURING TENURE RIGHTS TO PROTECT FORESTS AND COMBAT CLIMATE CHANGE: EXPLORING THE ROLE OF DEVELOPMENT FINANCE Hosted by Bank Information Center, Oxfam International, Rights and Resources Initiative and Forest Peoples Programme Objectives Held on October 11, 2016, this event represented a unique opportunity for participants to come together and strategize around the role of development …
by Nezir Sinani, Europe and Central Asia Manager The World Bank Group has secretly funded a coal boom in Asia despite announcing a conditional moratorium on such projects in 2013. Earlier this year, World Bank President Jim Yong Kim said, “If Asia implements the coal-based plans right now, I think we are finished.” Yet the …