The Panel, which recently published its fact finding mission report, also urges the IFC and the ADB for an immediate financing suspension and full audit of the Tata Mundra coal power plant.
A new BIC publication outlines the World Bank Group’s approach to development in Mongolia since 1991, focusing on the extractives industry. Mongolia is a large, sparsely populated country sandwiched between Russia and China whose economy has been growing rapidly over the past 10 years due to the discovery of vast mineral deposits such as coal …
Compliance Advisor Ombudsman will undertake an audit of the project after a complaint on the International Finance Corporation’s involvement was received from Kosovo’s Energy Union.
India has been declared the largest country of operation of the IFC (the private investing arm of the World Bank), with a total USD 3.6 billion in financing, spanning 248 projects. Both IFC and World Bank apparently take pride in these projects being “environmentally sustainable”.