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 …
Ulka Mahajan on the Context of the Role of IFIs in the Development Agenda
~ Maju Varghese Every year, India pays an enormous amount of money as commitment charges to the multilateral institutions for not utilising the loans sanctioned by them. Investopedia defines commitment charges as the fee charged by the lender to a borrower for an unused or un-disbursed loan since it has set aside the funds for the …
Continue reading India paid over 600 crores between 2009-2015 to the IFIs for not using their loans
The Asian Development Bank was conceived in the early 1960s as a financial institution that would foster economic growth and cooperation in Asia. India was a founding member of the Asian Development Bank (ADB) and is now the fourth-largest shareholder. ADB commenced operations in India in 1986 and has approved 240 loans totalling $36.8 billion. Asian …
Continue reading 50 years of ADB – The Indian story of resistance
By Maju Varghese The Constitution of India has accorded the Parliament the supremacy among the three organs of the Union government viz legislature, executive, and judiciary. Parliament not only makes the laws but also enables the citizens to participate in controlling the government. The Parliament applies various oversight mechanisms to ensure transparency and accountability in …
Netindia123.com: Medha Patkar demands more transparency in ADB projects (May 9, 2017) Webindia123.com: Medha Patkar demands more transparency in ADB projects (May 9, 2017) The Statesman: Call for nationwide protests against ADB's projects in India (May 8, 2017) Business Standard: Medha Patkar demands more transparency in ADB projects (May 8, 2017) Eenadu: Medha Patkar demands more transparency in ADB …
(May 8, 2017) New Delhi: People across India united to resist anti-people policies of ADB and other IFIs English हिंदी (May 7, 2017) Bhubaneswar: English ଓଡ଼ିଆ ଭାଷା (07 May 2017) Jhabua: Protest in …
Working Group on IFIs 