The World Bank has announced its intention to fund the Azerbaijan and Turkey part of the Southern Gas Corridor to Europe, despite concerns over the geopolitical context and fossil fuel dependency.
Eastern Europe & Central Asia
The World Bank and other multilateral development banks continue to push for public-private partnerships for infrastructure projects, despite concerns of debt risks and lack of transparency.
This briefing examines the trajectory of China's evolving leadership in international development finance, including the impact of it's massive increase in development finance for developing countries.
The IMF has changed its long-standing rule on lending to countries in arrears to official creditors, thereby avoiding having to cancel its $17.5 billion loan programme to Ukraine.
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.
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.
In response to increasing concern about the safety of human rights and environmental defenders, the World Bank’s accountability mechanisms look to improve complainant protection against retaliation and intimidation.
Notes from a meeting at the IMF/World Bank CSO Forum at the 2016 Spring meetings discussion the socio-economic impacts of the Syrian crisis, the outgoing flow of migration and the World Bank’s model on how to tackle these issues following its new report.
The Inspection Panel has deferred a decision to investigate a complaint regarding environmental, social and economic damage related to a World Bank funded mining project in Mongolia.
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.
Civil society organisations have renewed their calls for the World Bank to suspend funding to Uzbekistan, due to continued concerns about forced and child labour in the cotton harvest.
The World Bank's Inspection Panel has declined a request to investigate the use of forced and child labour in Uzbekistan.
The IMF has approved a $17.5 billion loan arrangement for Ukraine, however, it has been criticised for relying on debt forgiveness by its creditors.
Notes of a meeting on matching money and expertise at the World Bank-IMF annual meetings 2014