Highlight the Impacts on Key Sectors in India During IMF-WB 2020 Annual Meetings Date: 12 October, 2020 New Delhi: People’s Movements, Civil Society Groups, and concerned citizens are coming together to protest the World Bank’s policies, interventions and impacts which negatively impacted the Indian economy as a whole, and in particular in some key sectors, …
Continue reading Indian Civil Society Groups Announce “World Without World Bank” Action Week
Action Week -India; 12th to 16th October, 2020 Context The World Bank Group (WBG) continues to be the lead Multilateral Development Bank defining development and reshaping policies and economies to fit the neo liberal agenda. COVID-19 has provided the Bank a window to reinvent its relevance through support to countries in fighting the pandemic. This …
The annual World Development Report (WDR) is a flagship publication of the World Bank. The 2021 WDR report is in the process of being drafted and is titled “Data for Better Lives”. The Bank has shared the concept note for the Report for comments. As per the concept note, the World Development Report 2021 will …
Over the years increasingly institutions like World Bank and other MDBs have started using post-disaster situations and climate change as an opportunity to bring in policy reforms. Post disaster rehabilitation and recovery programmes provide institutions an easy entry with little resistance to the massive policy reforms that come along. Also, the language of resilience and …
Continue reading Disaster Funding and COVID-19 response of MDB’s in India
Recently, a piece of good news has appeared that World Bank Group’s International Finance Corporation (IFC) upholding the right to education in an official commitment and decided to freeze investments in private for-profit pre-primary, primary and secondary (k-12) schools. Currently, the whole world is facing the devastating impact of the COVID-19 pandemic and passing through …
Continue reading A Big Win- IFC World Bank to Freeze Investment in For-Profit Schools
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 …
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 …
Working Group on IFIs 