Bretton Woods Project - Critical voices on the World Bank and IMF

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IFC—International Finance Corporation

Founded in 1956, the IFC assists with private sector investments, primarily through mobilizing capital on international financial markets, and by providing technical assistance and advice to governments and businesses in developing countries. The IFC coordinates its activities in many areas with the other institutions in the World Bank Group: the World Bank president also serves as the IFC's president. Its current executive vice president is Jin-Yong Cai. The IFC generally operates independently as it is legally and financially autonomous with its own Articles of Agreement, share capital, management and staff. The IFC has 3,100 staff; 181 members; and lends in 80 countries, with 40 per cent of its investments in the financial sector. In 2008 the IFC´s worldwide committed portfolio for its own account was $32.3 million and $7.5 million held for participants in loan syndications. read more background...

Items 1 to 10 of 402

Alto Maipo endangers Santiago water supply Call for IFC to reject funding

Comment|Marcela Mella Ortiz|24 September 2013|url
Alto Maipo endangers Santiago water supply

Chilean civil society groups demand that a controversial hydroelectric project, which is projected to have a negative impact on environment and Santiago's supply of drinking water, be reconsidered. read article...

Civil society meeting with Stewart James, UK Alternate Executive Director to the World Bank 15 July 2013

Minutes|Bretton Woods Project|16 September 2013|url

Minutes of CSO meeting with Stewart James, UK Alternate Executive Director to the World Bank, 15 July 2013 read article...

Year 2 of the Tunisian revolution: Private profit vs public interest

Comment|l'Observatoire tunisien de l'économie|2 July 2013|url

In October 2012, the Tunisian government submitted a draft bill to the Constituent Assembly to shape a legal and institutional framework favourable to public-private partnerships (PPP). read article...

5-star development the IFC's new corporate welfare projects

News|Bretton Woods Project|26 June 2013|update 86|url

Controversial IFC investments in tourism and infrastructure projects continue to cause friction with local communities, prompting a new complaint to the Compliance Advisor/Ombudsman. read article...

Memorandum to the International Development Committee Inquiry on the Future of UK Development Cooperation

Briefing|Bretton Woods Project|26 June 2013|url

In written evidence submitted to the UK parliament's International Development Committee, we argue that further reform of the World Bank is needed. read article...

World Bank's new strategy: 'deliverology' for the private sector?

News|Bretton Woods Project|26 June 2013|update 86|url

As the World Bank's attention moves from goal-setting to implementation of a new strategy, it is becoming clear that it intends to further prioritise the role of the private sector and adopt many practices of its private sector arm, the International Finance Corporation (IFC), as the main pillars for the whole group. read article...

Leaked documents: World Bank strategy draft recommendations

Resource|Bretton Woods Project|26 June 2013|url

Web links for the leaked documents about the World Bank's strategy. read article...

An accountability mechanism without teeth? Two Albanian projects under CAO review

Comment|Agron Alibali, Lavdosh Ferruni|26 June 2013|update 86|url

The International Finance Corporation (IFC), the private sector arm of the World Bank, is under internal scrutiny for two projects in Albania. read article...

IFC financed 'land grabs' in Cambodia, Laos and Honduras exposed

News|Bretton Woods Project|26 June 2013|update 86|url

While the World Bank's leadership is further embracing private equity funds, the IFC's investment in financial intermediaries is again hitting the headlines over allegations of 'land grabs' in South East Asia and lack of respect for indigenous people's rights in Honduras. read article...

World Bank "short-sighted and cross-eyed" on fossil fuels

News|Bretton Woods Project|26 June 2013|update 86|url

As the World Bank released a new report on the impacts of climate change and is due to discuss its energy focus, it defended its engagement in fossil fuels, including the Kosovo coal power plant. read article...

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Recent briefings & reports

Memorandum to the International Development Committee: Inquiry on the Future of UK Development Cooperation  26 June 2013

The Doing Business review: a test of World Bank leadership 24 June 2013

Working paper: The private sector and climate change adaptation: International Finance Corporation investments under the Pilot Program for Climate Resilience  24 April 2013

The UK's role in the World Bank and IMF: Department for International Development and HM Treasury  13 March 2013

Infrastructure as an asset class: Financing development or developing finance?  3 July 2012

'Leveraging' private sector finance: How does it work and what are the risks?  18 April 2012


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