Community discussion on a World Bank Inspection Panel case in Egypt Last week, Senate Appropriators sent a strong message to the World Bank in support of the institution’s Independent Accountability Mechanisms (IAMs). The FY19 State & Foreign Operations Appropriations bill that was approved by the Appropriations Committee not only recommends fully funding the U.S. contribution to IDA18, …
The Spring Meetings[*] of the World Bank Group and International Monetary Fund do not just serve as an opportunity for central bankers, finance ministers, and private sector executives to discuss the global economy and their new, innovative ideas for ending poverty. The Bank and Fund also host dozens of events to discuss global development issues …
FY18 Omnibus: IFI Contributions The FY18 Omnibus included nearly $1.5 billion in funding for the IFIs. At a time when the U.S. commitment to multilateralism is in question, this spending bill suggests that using the multilateral development banks to reach the world’s poorest countries remains a priority for now. Over the last year, the U.S. …
The Trump Administration’s FY19 budget was released this week. While some foreign assistance accounts saw proposals for deeper cuts, the budget largely calls for maintaining the cuts that the administration called for in in its first budget request last year–including those for the multilateral development banks (MDBs) such as the World Bank. More information on …
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 …
Yesterday, Secretary Mnuchin made his first trip to the Hill to defend the White House budget request for Treasury’s international programs. The World Bank was a key focus of the hearing, in which lawmakers questioned how cuts to IDA—the World Bank’s arm for the poorest countries—could have significant implications for America’s leadership position on the …
Last week, BIC and Oxfam co-hosted a high level panel alongside the World Bank/IMF Spring Meetings aimed at confronting one of the biggest changes in the power dynamics surrounding the World Bank since its founding: the rise of populism. “The World Bank in an Age of Populism” featured distinguished speakers—Caroline Anstey, Ray Offenheiser, Alex Their, …
The rise of populist movements in many of the World Bank’s member countries poses new challenges for a Bank that is accountable to its Board. This session will put this year’s Spring Meetings in the context of one of the biggest changes in the power dynamics surrounding the World Bank since its founding. Join us …
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 …