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, …
In response to the harm caused by the World Bank funded Uganda Transport Sector Development Project (UTSDP), including the sexual exploitation of teenage girls, BIC has conducted advocacy to encourage that the Bank takes steps to provide redress to the community and to prevent such harm from occurring in future projects. BIC has worked with …
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 …
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 …
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 …