The COVID-19 corona epidemic that has taken over 16,99,019 lives all around the world has undoubtedly been a disaster with no parallels in modern history. Political and social analysts describe this pandemic as the reason for the most sustained period of worldwide public suffering since World War II and it indeed remains a fact that …
World Bank Aid or that matter any aid and its impact on countries has been a controversial discussion in development finance circles. While it is true that aid provides an important source of income for poorer countries and has an effect on reducing poverty, there are debates on how the powerful and economic elites capture …
Indian groups submit recommendations for AIIB’s review of their Environmental and Social Framework The Asian Infrastructure Investment Bank (AIIB), after four years of its operations, is undertaking a review of its environmental and social framework. 30 Indian Civil Society Organizations submitted their recommendations and concerns regarding the process of review and it’s content and scope. …
Continue reading AIIB’s review of their Environmental and Social Framework
Procedures for World Bank’s new accountability mechanism lacks transparency and inclusivity In a press release issued early last week, the World Bank has announced that the review of its independent accountability mechanism, the Inspection Panel, has been completed and that a few major reforms were added to the Inspection Panel. Accordingly, a new accountability mechanism – an …
A Case which made World Bank Legally Accountable On February 27, a year has passed since the Supreme Court of the United States ruled in a 7-1 judgment that World Bank does not enjoy absolute immunity. The judgment shook the foundations of the financial world, which hitherto enjoyed absolute immunity for whatever consequences their lending …
US Federal Court Rules in Favour of IFC in Tata Mundra Case: Fishworkers and Farmers to Challenge Decision. IFC hides it shame & guilt behind technicalities of jurisdiction Kutch, Gujarat / New Delhi: The fishworkers and farmers of Mundra affected by the Tata Mundra Power project will challenge the ruling from a federal judge in …
Tata Mundra Ultra Mega Power Project: A decade of disemPOWERing communities Almost a decade after the construction for the Tata Mundra Ultra Mega Power Project and eight years since the operations of the project started, a revisit to Mundra tells the story of the destruction of livelihoods, environment and disempowered communities. The project was envisaged …
AIIB’s newly wrapped ESG investments AIIB’s newly wrapped ESG investments: Asia ESG Enhanced Credit Managed Portfolio Project After fifty investments being approved and many more in pipeline, along with much criticism against India’s Infrastructure Fund [IIF], National Infrastructure Investment Fund [NIIF], IFC Emerging Asia Fund and Asia Investment Fund, two months ago a new partnership has been announced by …
AIIB’s Opaque Policies Under the Garb of Green Investments AIIB has come under severe criticism over its opaque policies with regards to Financial intermediary (FI) investments as well as its over-reliance on and delegation of power to the FI client. AIIB currently has 3 active FI projects out of 10 approved projects and one in …
For immediate release Inspection Panel’s Report on Amaravati Project only Validates the Issues Raised by CSOs July 26, 2019: Confirming the concerns raised by the communities and civil society organisations, Government of India withdrew its request from the World Bank for financing Amaravati Capital City Project to save itself from an investigation by Bank’s accountability …
Working Group on IFIs 