Bank Information Center-Monitoring the World Bank, IMF and other International Financial Institutions


Home ResourcesWhat's New What’s New The latest updates, articles, resources, and other content from throughout this site. RSS Update \| 28 August 2008 World Bank revises poverty estimates New estimates from the World Bank reveal that there are more poor people in the world than previously thought. Read more Update \| 29 August 2008 Weekly roundup: IFIs in the news The "Weekly Roundup" is a compilation of select news articles, blogs or other media concerning the international financial institutions from the past week. Read more Update \| 22 August 2008 The IFIs and financial intermediaries in ECA: Implementation of environmental and social standards International Financial Institution (IFI) lending through financial intermediaries (FIs) has become particularly significant in the Europe and Central Asia (ECA) region, but the IFIs lack adequate policies to ensure social and environmental best practices are applied to subsequent FI lending. Read more Update \| 20 August 2008 Banks active in extractive projects in Russia’s Komi Republic IFI involvement in mining and oil projects in the Timan-Pechora basin raises environmental and social concerns. Read more Press Release \| 21 August 2008 Global civil society calls for private banks to withdraw support from Bangladesh coal mine Over 100 civil society groups from 31 countries are calling on financial backers to withdraw their support from the the controversial Phulbari Coal Project in Bangladesh. The project will displace over 200,000 people, impoverish farming households and cause immense environmental impacts in one of the most fertile regions of Bangladesh. Despite these factors, according to information available on its website, the Asian Development Bank (ADB) remains interested in financing the project after having distanced itself from it earlier this year. Read more Update \| 22 August 2008 Weekly roundup: IFIs in the news The "Weekly Roundup" is a compilation of select news articles, blogs or other media concerning the international financial institutions from the past week. Read more Update \| 18 August 2008 IFIs cooperate on Central Asian road projects The IFIs are set to invest billions of dollars in transportation infrastructure in Central Asia, primarily under the Central Asia Regional Economic Cooperation (CAREC). Read more Update \| 18 August 2008 World Bank announces countries eligible for avoided-deforestation credits Democratic Republic of Congo (DRC) and five other African countries were included in a list of 14 that will take part in the Bank's controversial Forest Carbon Partnership Facility (FCPF). Read more Update \| 19 August 2008 Bretton Woods institutions send mixed messages about China’s role in Africa Since the Chinese economy has taken off and it has increasingly looked to Africa to provide raw materials, the World Bank and IMF have been confronted with the question of how to respond. Recent statements by the institutions have shown that these responses are careful and at times contradictory. Read more Press Release \| 14 August 2008 IFC and leading international banks do not have a robust framework for minimizing human rights risks A new study finds that international project financiers, including the leading international banks and the International Finance Corporation (IFC), do not have a robust framework for minimizing the social risks posed by their projects. Read more Update \| 14 August 2008 IFIs respond to Georgian conflict The international financial institutions (IFIs) have offered aid to Georgia, as the conflict winds down. Read more Update \| 14 August 2008 Available company data for IFC required disclosures The International Finance Corporation (IFC) fails to provide adequate links to government payment disclosures by its extractive industry clients. Read more Update \| 14 August 2008 Possible World Bank role in Azerbaijan’s privatization corruption James Wolfensohn, a former World Bank president, may have assisted a corrupt businessman seeking control of Azerbaijan’s state oil company. Read more Update \| 15 August 2008 Weekly roundup: IFIs in the News The "Weekly Roundup" is a compilation of select news articles, blogs or other media concerning the international financial institutions from the past week. Read more Update \| 11 August 2008 IFC considers record mining investment in Guinea as its Simandou concession comes under dispute The International Finance Corporation's (IFC) $35 million investment in a Guinea iron mine is in jeopardy after the government rescinded a deal with mining company, Rio Tinto. At the same time, the IFC is exploring the possibility of a $500 million stake in a massive aluminum project in the West African country. Read more Update \| 11 August 2008 Turkmenistan’s pipeline prospects: China, Russia, India, or Europe? As the great powers seek energy security, Turkmenistan is at the center of a number of pipeline proposals. Read more Update \| 8 August 2008 الصفحة الألكترونية لمركز معلومات البنك: منشورات متاحة الآن باللغة العربية تشمل الروبط الجديدة باللغة العربية صفحات المؤسسات وكذلك حقائق حول نشاط المؤسسات المالية الدولية في منطقة الشرق الأوسط وشمال أفريقيا Read more Update \| 7 August 2008 BIC pages, publications now available in Arabic New Arabic pages include institution pages and fact sheets on the IFIs in the MENA region. Read more Update \| 7 August 2008 Explosion along the BTC Pipeline confirms civil society concerns A fire on the Turkish segment of the Baku-Tbilisi-Ceyhan (BTC) pipeline has led to declined oil production, pipeline closure, and security fears. Read more Update \| 8 August 2008 Weekly roundup: IFIs in the news The "Weekly Roundup" is a compilation of select news articles, blogs or other media concerning the international financial institutions from the past week. Read more Press Release \| 5 August 2008 World Bank acknowledges serious flaws in West African Gas Pipeline But questions on compensation for displaced, “upstream” impacts, and gas flaring remain unanswered. Read more Update \| 1 August 2008 Weekly roundup: IFIs in the news The "Weekly Roundup" is a compilation of select news articles, blogs or other media concerning the international financial institutions from the past week. Read more Update \| 28 July 2008 Mejora la mirada periodística norteamericana sobre Brasil La imagen de Brasil bajo la mirada periodística mundial está mejorando. Una serie de artículos en la prensa Norteamericana está celebrando la aparente victoria del pragmatismo brasilero sobre las alternativas más radicales, como el ALBA de Venezuela. Read more Update \| 4 August 2008 New Infrastructure Project Endangers the La Amistad Biosphere Reserve Flaws in the environmental review process combined with negative social implications fuel fears of the Chan 75 hydroelectric project. Read more Update \| 28 July 2008 Nuevo proyecto hace peligrar la Reserva de la Biosfera Amistad El próximo 8 de Agosto cerrará el periodo de consulta para el registro de créditos de carbono del proyecto hidroeléctrico Chan 75 en la Reserva de la Biosfera Amistad en Boca de Toro, Panamá. Read more Update \| 30 July 2008 The World Bank as a Knowledge Producer The author, Shripad Dharmadhikary, examines why being a knowledge provider is so important to the World Bank, and how the Bank uses its research and knowledge services to intervene in the policy making of borrowing countries. The Bank Information Center supported the distribution of this book so as to highlight this little discussed role of the World Bank. Read more Update \| 24 July 2008 Independent Report questions integrity of ASEAN assessment of Burma damages A new report released by an independent researcher from the Burmese community says that many victims of Cyclone Nargis are still not getting adequate relief material from international aid groups, including the United Nations agencies. Read more Update \| 25 July 2008 البنك الدولي يقدم تمويل اضافي لمشاريع الكهرباء والمياه في الضفة الغربية وقطاع غزة وافق البنك الدولي على تقديم تمويل إضافي لمشروعات الكهرباء والمياه في الضفة الغربية وقطاع غزة ولكن مازال وصول هذه المساعدة للأكثر إحتياجأ، ومدى التأثير على محاصرة ارتفاع أسعار فواتير الخدمات ما زال موضع تساؤل Read more Update \| 25 July 2008 Weekly roundup: IFIs in the news The "Weekly Roundup" is a compilation of select news articles, blogs or other media concerning the international financial institutions from the past week. Read more Update \| 18 July 2008 Tragic accident in Brazil: Movement for Dam-Affected People among victims On July 11th a bus carrying activists from different social movements collided with a truck transporting gas. The explosion of both vehicles caused the death of fourteen people, four of them activists of the Movement for Dam-Affected People (MAB). Read more Update \| 18 July 2008 Civil society groups frustrated over ADB denials Civil society access to information is often impeded by the Asian Development Bank. Read more Update \| 21 July 2008 Civil society advises Bank of the South Over 50 civil society experts on International Financial Institution (IFI) issues and former IFI staff gathered in Ecuador in late June with the hope of playing a fundamental role in the configuration of the Bank of the South. Read more Update \| 17 July 2008 U.S. Congress launches World Bank Caucus The World Bank Caucus aims to foster dialogue between the World Bank and members of the U.S. Congress on development, poverty and trade issues. Read more Update \| 17 July 2008 EIB expands its operations to Central Asia Europe’s pursuit of new energy routes has helped secure Central Asia’s eligibility for funding from the European Investment Bank (EIB), leading to concerns about further extractive industry financing in the region. Read more Update \| 16 July 2008 Indonesian NGOs consolidate advocacy strategy on ADB's Integrated Citarum Water Resource Management Project On July 8-9, 2008, Indonesian NGOs held a two day workshop in Bandung, West Java on the ADB’s pipeline Integrated Citarum Water Resource Management (ICWRM) Project. The occasion marked the launch of the Peoples Alliance for Citarum (Aliansi Rakyat untuk Citarum-ARUM). Read more Update \| 17 July 2008 IMF working group drafts guidelines for sovereign wealth funds On July 9-10, 2008, the International Monetarty Funds’s (IMF) Working Group on Sovereign Wealth Funds (SWFs) held a two-day meeting in Singapore to address concerns around SWFs and consider possible guidelines. Read more Update \| 18 July 2008 Weekly roundup: IFIs in the news The "Weekly Roundup" is a compilation of select news articles, blogs or other media concerning the international financial institutions from the past week. Read more Update \| 11 July 2008 البنك الدولي يوقع اتفاقية جديدة مع مصر لشراء تخفيضات غازات الإنبعاث الحراري البنك الدولي يشتري 325,480 طن من تخفيضات لإنبعاثات غاز الإحتباس الحراري من شركة مصرية تعمل في مجال معالجة النفايات الصلبة وذلك نيابة عن الحكومات والشركات المنتمية لمنظمة دول التنمية والتعاون الإقتصادي (OECD) Read more Update \| 14 July 2008 Sakhalin II receives funding for second phase On June 16, 2008, the Japan Bank for International Cooperation (JBIC) agreed to loan up to $3.7 billion for the controversial oil and gas project in Russia. Read more Update \| 9 July 2008 ADB safeguards panel discussion from 2008 Annual Meeting Audio from the panel discussion on the Asian Development Bank's (ADB) Safeguard Policy Update at the ADB's 2008 Annual Meeting is now available online. Read more Update \| 9 July 2008 Michael Hofmann Read more Update \| 18 July 2008 World Bank provides additional financing to electricity and water projects in West Bank and Gaza The World Bank has agreed to additional financing for electricity and water projects in the West Bank and Gaza. But the reach of the assistance to the most needy, and the effects on curbing high utility bills are still questionable. Read more Update \| 8 July 2008 World Bank signs new emission reductions purchase agreement in Egypt The World Bank will buy 325,480 tons of carbon credits from Egyptian Company for Solid Waste Utilization (ECARU) on behalf of governments and companies in Organisation for Econmic Co-operation and Development (OECD) countries. Read more Update \| 11 July 2008 Weekly roundup: IFIs in the news The "Weekly Roundup" is a compilation of select news articles, blogs or other media concerning the international financial institutions from the past week. Read more Update \| 23 July 2008 World Bank’s lending for fossil fuel skyrockets as it positions itself as the “climate bank” As the World Bank prepares to launch two new climate investment funds at the upcoming G8 summit, and positions itself as the "climate bank," new statistics developed by the Bank Information Center show that the World Bank's private sector arm, the International Financial Corporation (IFC), increased its lending for fossil fuel projects by a staggering 165% in FY2008. Taken as a whole, the World Bank Group increased its fossil-fuel lending by 60% in the same period. Read more Update \| 3 July 2008 Los grupos de la sociedad civil proponen cambios en la reunión de la sociedad civil del BID Una carta enviada al Presidente Moreno explica una serie de argumentos que sugieren mayor control de las organizaciones de la sociedad civil en un cambio que supondría un cambio drástico en la forma de diseñar las reuniones. Read more Update \| 3 July 2008 Civil society groups propose change in annual IDB-civil society meeting A letter sent to President Moreno lays out a series of arguments suggesting greater control by civil society organizations in a change that would mark a dramatic shift in the Bank designed meetings of the past. Read more Update \| 2 July 2008 Election controversy raises questions for Mongolia’s mining sector July riots signal the importance of transparency and responsible revenue management for Mongolia’s political stability. Read more Update \| 1 July 2008 BIC's new handbook for advocacy on extractive industry revenues Bank Information Center has recently released it's new "Handbook for Advocacy on Extractive Industry Revenues: Good Practices and the IMF’s Guide on Resource Revenue Transparency." Read more Update \| 1 July 2008 Europe stays out of bid for top position at IMF's main policy-setting committee For the first time, the Europeans have decided to stay out of the bidding for the chair of the International Monetary and Financial Committee (IMFC). Read more Update \| 1 July 2008 برنامج الشرق الأوسط وشمال أفريقيا في مركز معلومات البنك ينظم حلقة عمل ثالثة في مصـــر قدمت حلقة العمل شرحاً لوسائل الإعلام ومنظمات المجتمع المدني في مصر حول نشاطات مركز معلومات البنك ، إضافةً الى التركيز على انشطه المؤسسات المالية الدولية في مصر Read more Update \| 25 June 2008 Jubilee Act passes U.S. Senate Foreign Relations Committee On June 24, 2008, the Jubilee Act passed the U.S. Senate Foreign Relations Committee. The bill must now be considered and passed by the full U.S. Senate before it can go to the President and be signed into law. Read more Update \| 24 June 2008 البنك الإسلامي للتنمية ينضم للجهود المبذولة لتخفيف حدة الأزمة الغذائية أعلنت المؤسسة التنموية التي تتخذ من جدة مقراً لها عن مساهمتها بمبلغ 1.5 مليار دولار في برامج الأمن الغذائي في البلدان الاعضاء Read more Update \| 24 June 2008 في الوقت الذي تبدأ به دراسة الجدوى، ما زال العديد من الأسئلة بدون إجابات تحيط بمشروع قناة البحر الأحمر–البحر الميت يثير موضوع دعم البنك الدولي لدراسات الجدوى بتكلفة تصل الى 15.5 مليون دولار تساؤلات حول التزام البنك بتطبيق سياسات الحماية المتعلقة ببرامجه حول هذا المشروع Read more Press Release \| 23 June 2008 "Águas Turbias", nuevo libro expone los problemas del Complejo del Rio Madeira Los artículos que componen Aguas Turbias pretenden servir de instrumento para aquellos que buscan comprender mejor la historia del proyecto y sus implicaciones para la región amazónica. Read more Press Release \| 23 June 2008 “Aguas Turvas”: new book that explains the never ending socio-environmental problems of the Madeira Complex A major new book, jointly published by the Bank Information Center, International Rivers and other partners, aims to explain the contradictions of the Hydroelectric Complex and the hydroways of the Madeira River. "Aguas Turvas" will serve as a tool for those that seek to understand the history of the project and its implications for the Amazon region. Read more Update \| 27 June 2008 Weekly roundup: IFIs in the news The "Weekly Roundup" is a compilation of select news articles, blogs or other media concerning the international financial institutions from the past week. Read more Update \| 23 June 2008 Zoellick visits Kyzylorda region World Bank President Robert B. Zoellick praised Kazakhstan for its role in reviving the Aral Sea, on a recent visit to the region. Read more Update \| 24 June 2008 Bota Foundation established The Bota Foundation, administered by the World Bank, held its first Board of Trustees meeting in June. Read more Update \| 23 June 2008 AIDESEP denuncia violación a los derechos comunales de comunidades campesinas y nativas a través de una carta al Presidente del BID El pasado 4 de junio el Consejo Directivo de AIDESEP envió una carta al Presidente del BID en relación al nuevo Decreto Legislativo 1015. Con dicho decreto los derechos de propiedad colectiva quedarán debilitados. Al aprobar dicho decreto el Gobierno del Perú esta actuando de forma inconstitucional y en detrimento de la violación de los derechos humanos. Con ello, AIDESEP solicita al Presidente Moreno la revisión del financiamiento del Proyecto “Programa de Titulación y Registro de Tierras – PTRTIII Inversión” (PE-L1026). Lejos de ayudar al desarrollo de las comunidades campesinas y nativas, dicho decreto llevará al desplazamiento y posterior migración forzosa de estas comunidades a las ciudades lo cual resultará en un incremento del desempleo y la pobreza. Read more Update \| 23 June 2008 World Bank continues to push African hydro despite concerns over vulnerability to climate change World Bank involvement in the proposed Inga and Kafue dams has brought criticism over the continued reliance on hydro in a warming world, and intentions to power foreign mining companies. Read more Update \| 21 June 2008 Newmont prepares mining operations in Ghana forest reserve As Newmont, the world's largest mining company prepares for gold mining operations in Ghana, civil society groups challenge the purported benefits for local communities. Meanwhile, the International Finance Corporation (IFC) has come under fire for the environmental and social legacies of its gold mining investments in Ghana and its plans proceed to begin the next phase of Newmont's controversial Ahafo gold project. Read more Update \| 21 June 2008 Colin Bruce named to #2 post in World Bank's Africa department The World Bank's Country Director for Kenya, who was criticized over the Bank's portfolio in the country as well as a controversial leaked memo during the country's recent elections, will be the new Bank Director of Operations and Strategy for Africa. Read more Update \| 20 June 2008 BIC's MENA program organizes third workshop in Egypt The workshop introduced BIC's work to Egyptian media and civil society organizations, and focused on the activities of the international financial institutions in the country. Read more Update \| 19 June 2008 World Bank and ADB cautioned against increasing engagement with Burma's military regime In a Statement issued June 17, the Ethnic Community Development Forum (ECDF) of Burma cautioned the World Bank and the Asian Development Bank (ADB) against any engagement with Burma's military rulers in the post-Cyclone Nargis scenario given the human rights situation in the country. Read more