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 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, …
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 …
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 …
March 2017 Elana Berger, BIC’s Social Inclusion and Accountability Manager, will testify before the Monetary Policy and Trade Subcommittee of the House Financial Services Committee this Wednesday at a hearing titled, “Examining Results and Accountability at the World Bank.” Elana’s testimony will focus on the Uganda Transport Sector Development Project (TSDP), which led to devastating …
The “skinny budget” released by the Trump administration yesterday proposed significant cuts to foreign assistance programs, including funding for the World Bank and other multilateral development banks (MDBs). While the budget indicates there is some support for continued U.S. participation in the MDBs, the result of the cuts will undoubtedly diminish the ability of the …
The draft IDA18 Deputies’ Report—released to the public at the end of October and closed for public comment on Nov. 11—indicates the 18th replenishment of IDA will result in several major changes to the way the World Bank operates in its poorest member countries. These changes are described in the report as “groundbreaking” and “transformational,” …
World Bank Funded Land Allocation for Social and Economic Development (LASED) Project in Cambodia On Tuesday, finance ministers from around the world concluded the third negotiation for the 18th replenishment of the International Development Association (IDA), the World Bank’s fund for the poorest countries. While IDA should be focusing its investments in areas and sectors …
The Annual General Meetings (AGM)* of the World Bank and IMF do not just serve as an opportunity for central bankers, finance ministers, and private sector executives to discuss the global economy and tout their accomplishments over the last year. The Bank and Fund host dozens of events to discuss global development issues with development …