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EI on the World Development Report: “One must have a vision to have hope”

Education International urges the World Bank to radically change its approach, which is damaging to workers, democracy and the future of our societies. In an open letter to Jim Yong Kim, Director of the World Bank, general secretary of Education International (EI) David Edwards raises the global union’s concern about the policy views and values contained in the Draft 2019 World Development report (WDR).

Global Unions Critique the World Bank’s flagship report at the Annual Meeting

The World Bank’s World Development Report 2019:The Changing Nature of Work, has attracted significant criticism from trade unions and civil society since a draft was circulated earlier this year. PSI and BWI responded to the draft report and the work of the bank and its lending arm in a panel organised by PSI, BWI, UNI and ITUC, at the World Bank Civil Society Policy Forum.

Source: PSI

The World Bank is urging the government to promote public-private collaboration

The World Bank is urging the government to promote public-private collaboration to foster “inclusive urbanization.” Stephanie von Friedeburg, chief operating officer at the World Bank Group's International Finance Corporation, “said during the 2018 Annual Meetings of the International Monetary Fund and World Bank that mayors and their local administrations could not face the challenges alone. (…) Von Friedeburg explained, while the government could enforce smarter regulations, the private sector could also finance infrastructure projects through instruments such as green bonds or public-private partnerships.” National Development Planning Board head Bambang Brodjonegoro advocated for “responsive” regulations. “Research organization McKinsey Global Institute director Jonathan Woetzel concurred, saying that technology could be a tool and an enabler to reduce negative externalities caused by urbanization.”

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Public development banks: towards a better model

Development banks have become a critical component of the effort to build up poorer economies, but their ways of working are flawed. As a result, their contributions can do more harm than good. many governments are calling on them to expand their contribution in key areas such as sustainable infrastructure, agriculture or industrialisation. In recent years some national Public Development Banks (PDBs) – particularly from BRICS countries (Brazil, Russia, India, China and South Africa) – have emerged as international actors by expanding their remit to financing projects in other developing countries. Not all PDBs succeed, and even the successful ones carry the risk of major negative impacts on development – sometimes due to external factors beyond their control, but more often because of flaws in their design and operation. As a new Eurodad report – published this week as the IMF and World Bank gather for their Spring Meetings in Washington DC – shows, inconsistent performance is partly down to the diverse mandates, roles and operational strategies of the institutions themselves. Eurodad believes some PDBs are failing because they have lost sight of why they were created.

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