Calls by the World Bank for hydropower to play a major role in efforts to strengthen resilience to climate change have been challenged by civil society organisations and recent research.
New edition of the Bretton Woods Project's biannual Climate Investment Fund (CIFs) Monitor, published to coincide with the World Bank-hosted CIFs committee meetings.
A report has cast further doubts on the viability and efficiency of the proposed lignite coal power plant in Kosovo which the World Bank is considering supporting.
Notes from a meeting at the IMF/World Bank CSO Forum at the 2015 Annual meetings, focusing on impact of World Bank support to Peru's climate change strategies.
An impending shortfall in available resources for the Clean Technology Fund continues to concern, leading to cancellation of projects. Questions were raised about development impacts and reliance on geothermal energy in India and Indonesia's revised investment plans, and on debt sustainability in a Caribbean project.
The Pilot Program for Climate Resilience (PPCR) has expanded with ten countries despite a lack of funds. The US questioned the approval of a Bolivia project and resettlement issues were raised on two Cambodia projects.
Six new countries were invited to join the Forest Investment Program (FIP), with a further nine invited to develop investment plans, despite insufficient funds. Potential support for oil palm plantations in Democratic Republic of Congo and industrial logging in Indonesia and Peru were questioned.
Concerns have been raised about the slow progress with the Scaling up Renewable Energy Program in Low Income Countries (SREP). Ghana, Haiti and Nicaragua's investment plans were approved, with questions asked about the loan/grant ratio, promotion of PPPs, and reliance on funding from the Green Climate Fund.
Despite efforts to boost its influence within climate finance circles and a call to “decarbonise development”, the World Bank continues to support fossil fuels.
What’s the issue? Energy is a crucial economic sector which has a disproportionate influence on…