Contents with tag: World Bank
The World Bank's shift to "billions to trillions" in development finance threatens more corporate-led development and privatisation through Public-Private Partnerships (PPPs).
The boycott was launched after repeated calls for the Bank to stop promoting PPPs that contain dangerous hidden debts, which are especially damaging for world’s poorest countries.
US Congressional Representative Gwen Moore, a Ranking Member of the House subcommittee tasked with World Bank Group (WBG) oversight, yesterday issued a rare letter of condemnation of the WBG for its failure to prevent conflicts of interest from shaping the decisions of its development finance institution, the International Finance Corporation (IFC), in its projects in the water sector.
Last February 29, IBON International together with more than 50 civil society organisations(CSOs) from around the globe urged the World Bank (WB) to push for more financial transparency on Public-Private Partnerships (PPPs).
Transcripts of the intervention made by Mr. Paul Quintos and Miss Tessa Khan of the Asia Pacific Women on Law and Development (APWLD) at the Interactive Stakeholder Dialogue at the Joint Financing for Development and Post-2015 Processes.
Corporate Accountability International (CAI) and IBON International joined forces in Washington, D.C. this week to challenge the World Bank Group on its role in privatized water utilities.
The goal to end extreme poverty worldwide by 2030 is now part of the World Bank Group’s (WB) new vision, adopted at its 2013 Spring Meetings in Washington, D.C. in April. The WB also adds the promotion of “shared prosperity” as another goal. The Bank’s strategy based on this vision is set to be unveiled in the 2013 Annual Meetings on 11-13 October.
Despite the woeful inadequacy of funding made available by the North for developing countries to meet climate challenges, donor-controlled climate funds have proliferated in recent years. Among the institutions that have staked a claim in the business of climate finance is the World Bank, which unveiled its Climate Investment Funds (CIFs) in 2008. At over $8 billion, the World Bank’s CIFs and carbon funds are collectively the largest climate-related funds currently managed by any public multilateral institution, dwarfing all of the funds under the UNFCCC.
Established 68 years ago, the World Bank (WB) remains one of the world’s largest multilateral development finance institutions with 188 member countries. It has a vast personnel consisting of 9,000 employees and consultants spread around the globe in over 100 offices, and an aid portfolio of $57 billion in 2011.
Growing joblessness, financial instability and sluggish growth of the global economy threw long shadows over this year’s annual meetings of the International Monetary Fund (IMF) and the World Bank Group (WB) in Tokyo, Japan. The summit kicked off the official meetings yesterday with a plenary graced by the Crown Prince of Japan. Jennifer del Rosario-Malonzo reports from Tokyo.