*Photo credit to scroll.in The World Bank’s independent Inspection Panel released a report today detailing the commitments made by World Bank management to prevent impoverishment, coercion, and retaliation against critics in the process of constructing a new mega-city in southern India. The World Bank and the new Asian Infrastructure Investment Bank (AIIB) are considering providing …
The House Financial Services Committee passed the World Bank Accountability Act of 2017 today, authorizing U.S. participation in IDA, the World Bank’s fund for the poorest countries. The bill funds IDA at the level recently requested by the Trump administration, but conditions that funding on whether the Bank adopts certain reforms, which the bill’s sponsor, …
On March 22, BIC’s Elana Berger testified before the House Financial Services Committee subcommittee on Monetary Policy and Trade. Berger’s testimony at the hearing entitled “Examining Results and Accountability at the World Bank,” focused on the impacts of the Uganda Transport Sector Development Project (TSDP) and the significant internal reforms at the Bank resulting from …
Via Electronic Mail Mr. Philippe Le Houérou Executive Vice President and Chief Executive Officer, International Finance Corporation 2121 Pennsylvania Avenue, NW Washington, D.C. 20433 cc: Dr. Jim Yong Kim, President, World Bank Group Dear Mr. Le Houérou, Thank you for your letter of November 4th, addressing the significant concerns raised by Inclusive Development International …
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 …
Dr. Jim Yong Kim President The World Bank Group cc: Executive Directors of the World Bank Group Sassenberg/Washington, March 1, 2017 Dear Dr. Kim, You have stated your commitment to combating climate change and have highlighted that those living in poverty will suffer the most severe impacts of climate change.1 However, this commitment …
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 …
While the recent election has cast a shadow of uncertainty over the future role of the United States in multilateral organizations such as the World Bank, it is worth reflecting on the progress that has been made at this institution and across the development finance landscape because of the leadership of the United States. The …