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 …
This World Bank Annual Meetings 2016 Civil Society Policy Forum session addressed how the World Bank Group can ensure that its financial intermediary (FI) investments are consistent with its forest and climate commitments. New research by Inclusive Development International on the impacts of IFC FI investments on forests, land rights, and climate was presented. A …
Photo © Joe Athialy (Washington DC, October 3, 2016) – The World Bank Group has secretly funded a coal boom in Asia despite announcing a moratorium on such projects in 2013, according to the results of a new investigation. World Bank President Jim Yong Kim has spoken forcefully about the dangers of new coal projects. …
Wadi Al Qamar near Alexandria, Egypt. Photo: © http://bit.ly/2aHaT3J In April 2015, the Compliance Advisor/Ombudsman – the International Finance Corporation (IFC)’s independent accountability mechanism – received a complaint from Egyptians living in Wadi al-Qamar, concerning the IFC-financed Titan cement plant and its incompatibility with IFC’s environmental and social requirements, including its violation of Egyptian national …
[Postal Savings Bank of China / Financial Times] BIC Executive Director Chad Dobson was quoted in a Financial Times article by Shawn Donnan about the Postal Savings Bank of China and the IFC, which has “become emblematic of the often subtle ways in which Beijing and Washington battle for influence behind closed doors at the …
BIC recently published two reports analyzing the impact of World Bank and IFC finance on forests and forest peoples around the world. These publications outline the findings of BIC’s review of World Bank Group public and private sector lending from the perspective of investments both within the forest sector, and in the primary sectors that …
Fishing communities and farmers from India filed suit against the International Finance Corporation (IFC) in federal court in Washington, D.C. The plaintiffs allege that the IFC caused the loss of their livelihoods, destroyed their lands and water, and created threats to their health by funding the Tata Mundra coal-fired power plant in Gujarat, India.
Press Statement December 6, 2013 ‘Stand by the truth and lead from the front’: Religious leaders tell World Bank President Calling World Bank President Jim Kim’s inaction on a scathing report on Tata Mundra power project a “disappointment”, religious leaders wrote to him an open letter (full text appended), urging him to take “bold …
On November 13, 2013, nine civil society organizations from Mongolia, Europe, US and Australia submitted their initial review of the Oyu Tolgoi (OT) project’s Operational Management Plans (OMPs) to the World Bank Group Board of Executive Directors in anticipation of the Board’s November 19th technical briefing. The Oyu Tolgoi copper/gold mine in the South Gobi …
Soumya Dutta outside the World Bank headquarters, August 2013 BIC highlights the work of Soumya Dutta in the campaign against Tata Mundra. Soumya Dutta is the National Convener of the Indian people’s science group Bharat Jan Vigyan Jatha and the Convener of the Climate and Energy Group in the Beyond Copenhagen collective in India, a network …