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News (8)

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World Bank Financializing Development

The World Bank has successfully legitimized the notion that private finance is the solution to pressing development and welfare concerns, including achieving the Sustainable Development Goals (SDGs) through Agenda 2030. The Bank's ‘Maximizing Finance for Development' (MFD) strategy marks a new stage. The MFD presumes that public money should mainly be used to leverage private finance.

Source: www.ipsnews.net

Abuja Water Summit Rejects Privatisation Projects

Unions, civil society organisations and allies convened a Water Summit in Abuja on 29-30 January to call a halt to the water privatisation plans being foisted on the government of Nigeria and state governments by the World Bank, by the US Millennium Challenge Corporation and other groups ideologically committed to privatisation and market control.

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).

Documents (3)

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A toolkit for advocacy at the World Bank Group

This toolkit aims to support civil society in their advocacy towards the World Bank Group. I The toolkit provides an overview of the World Bank: its main functions, its governance and how European Union Member States influence its decision-making; guidance on locating and understanding information about World Bank activities, and how civil society organisations can direct WBG-focused advocacy and campaign work.

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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.