IFI Governance | Bank Information Center: Monitoring the projects and policies of the World Bank, IMF and other international financial institutions


bicusa.org/governance IFI Governance Overview Updates Resources Contacts RSS Update \| 17 December 2010 BIC publishes Executive Director advocacy toolkit BIC is happy to announce the publication of our new Executive Director advocacy toolkit. Built around our ED advocacy workshop held during the 2010 Annual Meetings, this guide provides strategies for civil society actors to engage and build relationships with the World Bank's Executive Directors. Read more Update \| 1 November 2010 Civil Society submits a dossier of proposals for policy reforms to the IDB The dossier contains a summary of proposals submitted by a group of civil society organizations to the Inter-American Development Bank. These recommendations focus on two core areas of the IDB’s comparative advantage as a development bank in Latin America, Sustainability and Management for Development Results. Read more Update \| 5 October 2010 World Bank evaluation shows decline of cost benefit accounting as criteria for project approval In a new study, BIC's Vince McElhinny examines recent IEG findings that point to a significant accountability gap with regard to a lack of cost benefit analysis at the institution and what this implies in the context of the ongoing investment lending reform. Read more Update \| 8 September 2010 Zambia to represent Africa on World Bank Board Pending Board approval, Zambia will represent a number of Anglophone African countries on the World Bank's Board of Directors, effective October 21, 2010. Meanwhile, discussions are underway to identify which countries will comprise the newly-formed third African seat on the Board. Read more Update \| 27 July 2010 Civil Society Organizations submit a letter to President Moreno after his re-election Civil Society Organizations sent a letter to President Moreno to remind him that the mandate of his next Presidential term at the Bank will rest on three fundamental challenges: an Evidence-based Results Management, Institutional Governance, and a Social and Environmental Sustainability vision for the region. This in despite of controversial management style and consequent Bank performance over the last five years under his Presidency. Read more Update \| 25 June 2010 ClimateWire: Zoellick to appoint climate change envoy Andrew Steer will begin his role as climate change envoy at the World Bank on July 1. Read more Update \| 30 March 2010 World Bank recapitalization update - “New world – same World Bank” The proposed capital increases for the World Bank and IFC would expand their size without expanding the scope of their reform. Read more Press Release \| 24 March 2010 “The IDB Cancun Declaration is a step forward, but it is just that- one step" Press Release from civil society groups present at the IDB Annual Meeting of the Board of Governors in Cancun, Mexico Read more Press Clipping \| 19 March 2010 IDB arrives at Cancun meeting weakened by poor management Severe doubts have been raised by some of the IDB's own members regarding Luis Alberto Moreno's management. Read more Press Clipping \| 18 March 2010 Brazil and Argentina oppose reelection of Luis Alberto Moreno Brazilian Minister of Finance, Guido Mantega: "we will propose at the meeting that the IDB elect a new administration that is more efficient and beneficial to the region". "Our joint evaluation is that his performance has been unsatisfactory". Read more Press Clipping \| 18 March 2010 Moreno’s management questioned as IDB funding increase pared While Moreno prays for "white smoke" at the IDB Annual Meetings in Cancun, both critics within the Bank and civil society offer sharp criticism of the leader's performance. Read more Press Clipping \| 22 January 2010 Candidates emerge to head Inter-American Development Bank Read more Update \| 7 January 2010 U.S. Treasury guidance note for MDB coal investments In December 2009, the U.S. Treasury released a guidance note intended to be adapted by individual MDBs and incorporated into their respective operational policies, country and sector strategies, and other procedures that are related to the public or private project cycle for coal-powered generation operations. Read more Press Release \| 23 December 2009 PRESS RELEASE: World Bank approves revised Policy on Disclosure of Information The World Bank released the final adopted version of "Toward Greater Transparency Through Access to Information: The World Bank’s Disclosure Policy," effective date 1 July 2010. The Global Transparency Initiative (GTI) congratulates the World Bank for the significant improvements of the new policy over its predecessor and looks forward to policy implementation. Read more Update \| 10 November 2009 Report Identifies Racial Inequality in IDB Projects and Employment A new report prepared by GAP shows that the Inter-American Development Bank (IDB), the most important multilateral lender to Latin America, fails to promote racial equality adequately. The issue affects the identification, preparation, and implementation of IDB programs and projects in the region, as well as the Bank’s hiring, retention, and promotion practices. Read more Press Clipping \| 10 November 2009 Madeira Rivers Dams Denounced OAS CIDH Read more Press Release \| 5 November 2009 IDB GCI consultation at early crossroads Guadalajara Civil Society Meetings in Guadalajara, Mexico open with increased demands for consultation process accountability, transparency guarantees. Good faith participation by CSOs rests on Bank decision to disclose and discuss a second draft of the proposed revisions to the Independent Consultation and Inspection Mechanism (ICIM). Read more Update \| 1 October 2009 2009 World Bank/IMF Annual Meetings Get the latest information on World Bank and civil society events organized around the upcoming World Bank/International Monetary Fund (IMF) Annual Meetings in Istanbul, Turkey and how to get involved. Read more Update \| 30 July 2009 Put the Brakes on the Bank: Carbon Finance in Indonesia Read a BIC op-ed in The Huffington Post about Indonesia's problematic Readiness Preparation Proposal to the Forest Carbon Partnership Facility. Read more Press Clipping \| 16 July 2009 IFIs restate freeze on funding to Honduras The represenatives of the Interamerican Development Bank (BID) and World Bank (WB) in Washington for Honduras rejected the suggestion that IFI funds assigned to Honduras had been "unfrozen." The pause in IFI funding announced on June 28 will be sustained. Read more Update \| 30 June 2009 Civil society organizations challenge IDB commitments to development results and sustainability As member countries assess the 9th replenishment proposal advanced by the Inter-American Development Bank (IDB) on July 2 in Santiago, Chile, eight civil society organizations submitted recommendations on leadership steps the IDB should take in several critical areas before qualifying for any capital increase. These recommendations focus on two core areas of the IDB’s comparative advantage as a development bank in Latin America, Sustainability and Management for Development Results. Read more Press Clipping \| 30 May 2009 Spiralling demand for IDB funds in Latin America The bank, having already increased lending from $11.2bn in 2008 to as much as $18bn this year, is weighing both alternatives for further expanding lending in the short-term and an extensive capital increase. Read more Update \| 3 May 2009 Rio Madeira Hydrolectric Complex - video resources Read more Press Clipping \| 18 April 2009 IDB evaluates a re capitalization of US$ 180 billion The IDB looks to recapitalize their resources according to the recommendations in the report written by Pedro Pablo Kuczynski, former Finance minister of Peru. Read more Press Clipping \| 18 April 2009 World Bank fails to combat fraud The World Bank's procedures for detecting fraud in its main program of assistance to poor countries were classified as a "structural weakness" in an internal report, increasing the bank's problems in dealing with issues of corruption. Read more Press Clipping \| 16 April 2009 The paradox of the Amazon On the one hand, Brazil made some improvements reducing the rate of deforestation. On the other hand, IIRSA prevents the country from achieving its national environmental goals while deforestation puts the survival of the entire planet at risk. Deforestation is the cause of 20% of the world's global warming - more than the effects of all automobiles. Read more Update \| 13 March 2009 GTI Update: World Bank to review transparency standards As the World Bank launches a review of its policy on access to information, the Global Transparency Initiative will track the review process and provide analytical support to civil society groups concerned with transparency standards at the Bank. Read more Press Clipping \| 12 February 2009 IDB record $2 bn losses force replenishment request The reported scale of the Inter-American Development Bank's investment portfolio losses of $1.9 billion — 10 to 100 times higher than the losses of the other development banks Read more Update \| 4 February 2009 BNDES plans $43 billion in investments for Brazil Read more Update \| 29 December 2008 New book by INESC - Financing for Megaprojects A new book of articles edited by Ricardo Verdum of the Brazilian Instituto de Estudio Socioeconomicos (Inesc) explores the trends in financing for megaprojects in South America. The book highlights the shifting balance between IFIs such as the World Bank, the IDB and CAF toward new institutions such as BNDES, as well as the competition between IIRSA and UNASUR. The book emphasizes the urgency for greater transparency and accountability in information and decision making about large, high risk infrastructure in the region. Read more Update \| 21 November 2008 Directors of IIRSA reject petition for participation of civil society The President of the Directors of IIRSA and current Director of the Ministry of Planning of Colombia, Carolina Renteria, reported on Monday, November 10 the decision to reject a hearing on IIRSA requested by 20 civil society organizations from 8 countries. The CSOs submitted a proposal to create mechanisms to ensure the participation of civil society in the planning process of integration within the framework of IIRSA, in addition to other potential integration processes as well as for the implementation of Strategic Environmental Studies (SEA) for groups of IIRSA projects. Read more Update \| 14 November 2008 Colombia: Pasto-Mocoa Highway; Indigenous people's rights in Peru; Manta-Manaos in Ecuador BICECA Monthly Bulletin 2008 Read more Update \| 27 October 2008 Investigation clears Strauss-Kahn The Board of Governors of the International Monetary Fund (IMF) has cleared Managing Director, Dominique Strauss-Kahn of abuse of power. Read more Update \| 24 October 2008 Urgent Action: Global sign-on statment on the proposed "Global Summit" to reform the international financial system Sign-on to the civil society letter, BY OCTOBER 28, supporting the fundamental and far-reaching transformation of the international financial and economic system. The letter supports the major international conference convened by the UN to review the international financial and monetary architecture, its institutions and its governance. Read more Update \| 18 October 2008 IMF to investigate Strauss-Kahn for abuse of power The International Monetary Fund (IMF) is investigating whether its Managing Director, Dominique Strauss-Kahn abused his power. Read more Update \| 14 October 2008 U.S. to lose stranglehold on World Bank presidency In a deal brokered by the United Kingdom's development secretary, the selection of the next World Bank president will be open to candidates from any country. Read more Update \| 2 October 2008 BIC's popular Tools for Activists now available in Chinese To broaden its use among civil society organizations in China, the Bank Information Center’s World Bank Toolkits for Activists is now available in Chinese. 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 \| 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 \| 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 Country Update \| 4 June 2008 Azerbaijan Country Update #14 Recent developments, decisions, and civil society activities related to activities of the International Financial Institutions (IFIs) in Azerbaijan. Read more Country Update \| 4 June 2008 Kazakhstan Country Update #16 Recent developments, decisions, and civil society activities related to activities of the International Financial Institutions (IFIs) in Kazakhstan. Read more Country Update \| 4 June 2008 Kyrgyz Republic Country Update #5 Recent developments, decisions, and civil society activities related to activities of the International Financial Institutions (IFIs) in the Kyrgyz Republic. Read more Country Update \| 4 June 2008 Mongolia Country Update #2 Recent developments, decisions, and civil society activities related to activities of the International Financial Institutions (IFIs) in Mongolia. Read more Country Update \| 4 June 2008 Georgia Country Update #1 Recent developments, decisions, and civil society activities related to activities of the International Financial Institutions (IFIs) in Georgia. Read more Country Update \| 4 June 2008 Russia Country Update #1 Recent developments, decisions, and civil society activities related to activities of the International Financial Institutions (IFIs) in Russia. Read more Update \| 2 June 2008 The EBRD’s Annual Meeting in Kiev Read highlights from the European Bank for Reconstruction and Development's (EBRD) Annual Meeting, held last month in Kiev, Ukraine. Read more Update \| 9 May 2008 Amid food riots and shaken governments IFIs scramble to develop a coherent response Skyrocketing food prices have forced the international financial institutions (IFIs) to articulate responses to the situation. The World Bank has conjured a "New Deal for Global Food Policy" to pump agriculture-oriented loans and programs into Africa and to address emergency financing needs. The IMF has voiced concern over the likely macroeconomic shocks of the food crisis in low-income countries. But the Bretton Woods Institutions must wrestle with a legacy that helped set the stage for diminished food security in many low-income countries. Read more Update \| 7 May 2008 IMF chief economist resigns Less than a week after 591 employees at the International Monetary Fund (IMF) opted to take a buyout package, the IMF’s chief economist announced his resignation. Read more Update \| 1 May 2008 Exodus at the IMF As the International Monetary Fund (IMF) continues to face escalating deficits and a crisis of credibility, almost a quarter of its 2,400 full-time staff in Washington, D.C. have voluntarily applied for resignations. At the same time, the Board of Governors of the IMF has approved the proposed quota and voice reforms with a 92% majority vote. Read more Update \| 25 April 2008 ADB and U.S. at odds on policies While the U.S. remains committed to the Asian Development Bank (ADB) and its mission of reducing poverty in Asia, objections to the Bank's lending policies and its function are causing concerns that U.S. funding commitments could be cut because of the dispute. Read more Update \| 7 April 2008 Joint Bretton Woods Project Update # 60 Read the special Spring Meetings edition of the Bretton Woods Update, co-produced with Afrodad, Bank Information Center, Choike, and Eurodad. The issue is also available in Spanish. Read more Update \| 24 March 2008 Struggle over succession at the EBRD A struggle over selecting the successor to the President of the European Bank for Reconstruction and Development (EBRD) has divided donor and recipient countries in a manner that is reminiscent of the recent debates over succession at the World Bank and the International Monetary Fund. Read more Update \| 10 March 2008 World Bank General Counsel resigns World Bank Group General Counsel Ana Palacio is resigning her position, effective April 15, further diminishing former World Bank president, Paul Wolfowitz's legacy. Read more Update \| 15 February 2008 High-level panel issues report on prospects for African Development Bank Panel's suggestions include merging of the African Development Fund (ADF) with the African Development Bank (ADB), and eliminating the performance-based allocation (PBA) system. Read more Update \| 13 February 2008 Iraq renews $744 million loan from the IMF Iraq’s renewed Stand-By Arrangement with the International Monetary Fund (IMF) includes macroeconomic policy reforms that may restrict fiscal space for public spending, particularly on the public wage bill. It also continues the deep involvement of international financial institutions in Iraq’s oil sector. Read more Update \| 4 February 2008 China's Lin named chief economist of World Bank World Bank hopes leading academic's appointment will help strengthen ties with China. Read more Update \| 4 February 2008 Zoellick commits to expanding Extractive Industries Transparency Initiative Addressing the African Union Summit on Thursday, January 31, 2008, World Bank President Zoellick committed to expanding the Extractive Industries Transparency Initiative (EITI). Read more Update \| 4 February 2008 IMF attempts to fix its problems through ambitious work program for early 2008 Managing Director Dominique Strauss-Kahn attempts to fix the IMF’s fractured legitimacy and financial fiasco through an ambitious, opaque, and inaccessible "Interim Work Program." Read more Update \| 25 January 2008 World Bank to implement Volcker panel recommendations Following the resignation of Suzanne Rich-Folsom, the previous head of the World Bank's anti-corruption unit and the embarrassing revelations of extensive fraud in several of its health projects in India, the World Bank announced on January 23, 2008 that it would implement all the recommendations of the Volcker Panel Review. Read more Update \| 24 January 2008 Donors demand overhaul at the ADB Leading donors to the Asian Development Bank (ADB) have demanded that the institution overhaul its staffing and oversight procedures. Read more Update \| 17 December 2007 Ecuador rejects ICSID arbitration over extractive industry disputes Ecuador's actions are part of a wider dissatisfaction among some Central and South American countries with international investment law and particularly its dispute settlement regime. Read more Update \| 10 December 2007 Bank of the South launched Seven South American leaders launched the Bank of the South (Banco del Sur) on Sunday, touting it as the continent's alternative to U.S.-backed lenders. Read more Update \| 7 December 2007 IMF to cut staff by 15% In an exclusive interview with the Wall Street Journal, Dominique Strauss-Kahn, the new Managing Director of the International Monetary Fund (IMF), reveals plans for significant layoffs at the institution, by as many as 300-400 jobs. Read more Update \| 14 November 2007 Bank of the South Eight countries are planning to inaugurate the Bank of the South in December 2007. The Bank of the South represents the cornerstone to a more wholesale renovation of the regional financial architecture long dependent on Northern banks. Read Vince McElhinny's new info brief on the Bank of the South and what it means for Latin America, and the continued relevance of the international financial institutions for the region. Read more Update \| 5 November 2007 People's tribunal in Bangladesh announced A people's tribunal against the World Bank, International Monetary Fund and the Asian Development Bank was announced in Dhaka, Bangladesh yesterday, hours before World Bank President, Robert Zoellick's arrival in the country. Read more Update \| 2 November 2007 CSOs draft open letter to Bank of the South members On November 1, Jubilee South and other civil society organizations unveiled an open letter to the presidents of Argentina, Bolivia, Brazil, Paraguay, Uruguay and Venezuela calling for a sovereign, supportive, sustainable and integrated Bank of the South. Read more Update \| 31 October 2007 Changing of the guard at the IMF Dominique Strauss-Kahn, former Finance Minister of France, takes over as the new Managing Director of the International Monetary Fund (IMF) on November 1. DSK, as he is generally known, inherits an institution experiencing crises of legitimacy, identity, and solvency, yet is unlikely to implement real changes at the institution. Read more Update \| 9 October 2007 The International (European) Monetary Fund? As yet another top post at the International Monetary Fund goes to a European, critics question the institution's committment to increasing the voice and representation of developing country constituencies in the Fund. Read more Update \| 5 October 2007 Zoellick overhauls top management World Bank President Robert Zoellick has named former Nigerian Finance Minister, Ngozi Okonjo-Iweala, as a new managing director of the Bank, effective December 1, 2007. Read more Update \| 2 October 2007 Is the IMF's role in low-income countries conducive to reducing poverty? Controversial both inside and outside the institution, the International Monetary Fund's (IMF) strategy in low-income countries was debated at a recent panel that questioned whether or not the IMF should exit low-income countries. Read more Country Update \| 24 September 2007 Kazakhstan Country Update #15 Recent developments, decisions, and civil society activities related to activities of the International Financial Institutions (IFIs) in Kazakhstan. Read more Country Update \| 24 September 2007 Azerbaijan Country Update #13 Recent developments, decisions, and civil society activities related to activities of the International Financial Institutions (IFIs) in Azerbaijan. Read more Update \| 20 September 2007 UN adopts Declaration on the Rights of Indigenous Peoples On September 13th, after over 20 years of negotiations, the United Nations General Assembly finally adopted the Declaration on the Rights of Indigenous Peoples. The international declaration sets a higher standard for international financial institutions (IFIs) to ensure safeguards and strengthen their policies on indigenous peoples. Read more Update \| 14 September 2007 Volcker report finds Bank ineffective in addressing corruption A review of the World Bank's Department of Institutional Integrity and its Governance and Anti-corruption strategy finds that weak management, employee resistance and internal distrust is contributing to the Bank's ineffectiveness in combating corruption in its operations. Read more Update \| 7 September 2007 U.K. backs Strauss-Kahn and Europe assures reforms, while developing countries cry foul The U.K. confirms its support of the EU nominee Dominique Strauss-Kahn for the leadership of the IMF; Luxembourg's prime minister assures a non-European leader in the future; and emerging countries such as India call out for real reform of governance in the IMF. Read more Update \| 6 September 2007 GAP details serious issues with World Bank's anti-corruption unit In a report released today, the Government Accountabilty Project finds that the World Bank's Department of Institutional Integrity is undermined by a conflict of interest at its top ranks and serious, long-term problems. Read more Update \| 22 August 2007 Journalists confirm Wolfowitz censored "climate change" Journalists confirmed that former World Bank President Paul Wolfowitz, personally intervened in removing the words "climate change" from Bank progress reports, and that it may be years before the World Bank considers greenhouse gas emissions in its projects. Read more Update \| 22 August 2007 Independent evaluation finds over 40% of IFC projects fail to deliver development results The Independent Evaluation Group (IEG) of the International Finance Corporation (IFC), found that 41% of the IFC projects studied had low development ratings. IFC performed particularly poorly in Africa and Asia, where only half of its projects had positive development outcomes. In Africa, the quality of IFC work was particularly poor, rated as “high” in only 45% of projects, as compared to 68% in other regions. Read more Update \| 22 August 2007 IMF head selection process: Russia crashes western Europe’s party While western European countries continue to assert naming rights to run the IMF, Russia makes a surprise nomination. Read more Update \| 17 August 2007 ADB's Energy Strategy must adhere to international standards The Asian Development Bank has completed the consultation process on its draft Energy Strategy. Civil society organizations from throughout the region have called on the ADB to incorporate current international best practices in sector, and at minimum to adopt the principles of the Extractive Industries Transparency Initiative. Read more Update \| 26 July 2007 U.S. backs Strauss-Kahn to lead IMF The U.S. backing of Dominique Strauss-Kahn will likely confirm his nomination to head the IMF, continuing the "old boy's club" tradition. Read more Update \| 20 July 2007 Where will Zoellick steer the World Bank? The new World Bank President spoke of middle income countries, good governance and the need to diversify services at a town hall meeting earlier this month. Read more Update \| 18 July 2007 How to become relevant in Latin America: the latest on the IDB realignment Whatever else you might say of him, Luis Alberto Moreno does not waste time. Named fourth president of the Inter-American Development Bank in 2005, he announced IDB would remake its role in Latin America at his first annual meeting just one year later. Read Vince McElhinny's new policy brief on the realignment process, components and concerns. Read more Update \| 10 July 2007 EU rushes to cement hold on IMF leadership post European countries are rushing to protect their patronage rights to name the head of the IMF after Rodrigo Rato's surprise resignation announcment just two weeks ago. Read more Update \| 8 July 2007 IMF leadership selection process: time for reform, or more of the same? Will the International Monetary Fund learn from the recent World Bank crisis, and reform the outdated process through which European countries basically appoint the Managing Director? Read more Update \| 25 June 2007 Zoellick officially selected as next World Bank President The Executive Directors of the World Bank unanimously selected Robert B. Zoellick to succeed Mr. Wolfowitz, effective July 1, 2007, as the 11th President of the Bank for a five-year term. Read more Update \| 18 June 2007 Deadline for nominating candidates for World Bank presidency passes Despite all the public outcry about the flaws in the World Bank's governance and the need for an open, democratic, and merit-based process for the selection of the next World Bank President, NOT A SINGLE COUNTRY proposed an alternate candidate to the US's pick for the job, allowing the US to continue its grip on the leadership of the institution. The Board is expected to confirm the Bush administration's choice for the job - Robert Zoellick - by the end of June... Read more Update \| 31 May 2007 US picks its winner for one-horse race to head World Bank; other countries must step up to the gate The White House’s announcement that it will nominate former US Trade Representative Robert Zoellick to be the next World Bank President, and the widespread assumption that the choice is a fait accompli, serve as a reminder that the lessons of the Wolfowitz scandal have yet to be learned. Read BIC's May 31 Press Release on the Zoellick nomination. Read more Update \| 29 May 2007 Australia joins Brazil's call for merit-based World Bank presidential selection process Demands join a chorus of voices from civil society and beyond expressing concerns about the antiquated system through which the United States effectively appoints the President. Read more Update \| 17 May 2007 World Bank governance challenges: what must be done The Wolfowitz scandal should serve as a sobering wake-up call to the World Bank on the need for meaningful governance reforms. Its archaic 1940s convention of allowing the US to name the Bank’s leader undermines the institution’s legitimacy as well as the accountability of the Bank’s president. The Bank does not need to look very far for reform proposals - including its own 2001 proposals for an open, competitive selection process that were summarily ignored. Read more Update \| 15 May 2007 2007 Annual Meeting of the European Bank for Reconstruction and Development (EBRD) The EBRD Annual Meeting and Business Forum will be held 20-21 May 2007 in Kazan, Republic of Tatarstan, Russian Federation. One hot topic of conversation will be over the institution's profits. Read more Update \| 27 April 2007 BIC statement on the Wolfowitz scandal and the need for deeper governance reforms With all eyes on Wolfowitz, few are looking deeper at the true scandal about the World Bank – that the governance of the world’s leading development agency is shrouded in secrecy and fundamentally undemocratic. Read more Update \| 12 April 2007 Staff Association calls for Wolfowitz's resignation The chair of the World Bank Staff Association, Alison Cave, said that Paul Wolfowitz "must acknowledge that his conduct has compromised the integrity and effectiveness of the World Bank Group and has destroyed the staff's trust in his leadership. He must act honorably and resign." Read more Update \| 14 March 2007 US nominates new Executive Directors for World Bank, IMF and ADB Testimonies were presented by nominees Margrethe Lundsager, Eli Whitney Debevoise II and Curtis S. Chin to the Senate Committee on Foreign Relations and statements were followed by a question and answer period. Read more Update \| 13 March 2007 Public Consultation on EIB's Anti-Fraud Policy The EIB is launching a public consultation as part of a review of its anti-fraud policy from February 12-April 18, 2007. If required, this process will be extended to include another 20 working-day consultation, taking into account stakeholder comments from the first round. Comments accepted until April 18, 2007. Read more Update \| 26 February 2007 EBRD blacklists German firm found guilty of fraud by World Bank The German company Lahmeyer, found guilty of bribery while involved in the World Bank's Lesotho Highlands Water Project, has been placed on a list of firms that are ineligible of working with the European Bank for Reconstruction and Development (EBRD) following the EBRD's examination of World Bank reports. Read more Update \| 20 February 2007 Paul Volcker to lead independent investigation of World Bank's integrity unit The Department plays a critical role in rooting out fraud and corruption within the World Bank - a focus many claim is underplayed in the institution's development of its Governance and Anti-Corruption Strategy. Read more Update \| 12 February 2007 Governance and Anticorruption Strategy: moving forward Consultation period closed on January 26. Management to update the current draft in preparation for a March 20 Board of Directors meeting. Read more Update \| 31 January 2007 Dispute between Wolfowitz and Bank Board becomes public Referencing key board documents, investigative journalist Richar Behar exposes deep tensions between World Bank President Paul Wolfowitz and the Bank's Board of Directors. Read more Update \| 30 January 2007 World Bank anti-corruption strategy needs improvement Concerns include the draft's failure to adequately address the Bank's internal governance and the role of the private sector. Read more Update \| 24 January 2007 Gordon Brown urges reform of UN, World Bank and IMF The Chancellor of the Exchequer of the United Kingdom, Gordon Brown, called for "modernization and reform" of the United Nations, the World Bank, and the International Monetary Fund, at a keynote speech in India on January 17, 2007. Read more Update \| 22 January 2007 IDB Readies 2007 Annual Meeting in Guatemala The IDB has announced that it will hold its 48th Annual Meeting in Guatemala City, Guatemala between March 14-20. The official agenda is not yet known, but participants are speculating that the hot issues at the 2007 Annual Meeting will be announcements about the heralded IDB realignment, Camisea, and HIPC debt relief. Read more Update \| 22 January 2007 IDB Restructuring: What Does It Mean? An overview of the "why" and "what" of the recently announced IDB reorganization and realignment. Analyzes the risks and opportunities based on the best information BIC has obtained through extensive interviews with IDB staff and leadership. Read more Update \| 24 November 2006 World Bank anti-corruption strategy: what people are talking about The World Bank’s anti-corruption strategy is trudging forward, in spite of continuing tensions over the content and tone of the framework. Read more Update \| 16 November 2006 World Bank anti-corruption strategy now open for public comment Comments on the controversial strategy will be accepted for an unspecified amount of time. Read more Update \| 8 November 2006 Financial institution transparency - making money talk An article from Ethical Corporation on the Global Transparency Initiative's Charter for International Financial Institutions... Read more Update \| 30 October 2006 WSJ article chronicles Wolfowitz's push to accelerate World Bank work in Iraq An article on the front page of the Wall Street Journal today, featuring a quote by BIC's Executive Director, provides a comprehensive account of World Bank President Paul Wolfowitz's continued drive to chart Iraq's future. Read more Update \| 21 October 2006 Wolfowitz's anti-corruption plan receives lukewarm reception at Annual Meetings The World Bank's controversial Governance and Anti-Corruption Framework was the subject of intense debate prior to the Annual Meetings, raising important questions about the appropriate role for the Bank in fighting corruption, and the need for the institution to clean up its own act before dictating strategies to others. Read more Update \| 2 October 2006 2006 IMF/World Bank Annual Meetings: Taking stock Details on the International People's Forum and the official meetings, a boycott timeline, and links to additional resources. Read more Update \| 19 September 2006 Wolfowitz's anti-corruption plan faces resistance from Development Committee World Bank management presented its highly-anticipated governance and anti-corruption strategy to the Development Committee on September 18 at the Annual Meetings in Singapore. The strategy was met with some resistance by member governments, who demanded greater Board oversight of the framework. Read more Update \| 18 September 2006 International People's Forum celebrates success; charts way forward In a statement released on the last day of the IPF, the organizers celebrate the success of the event and renew demands for multilateral debt cancellation, transparency and participatory audits of IFI lending and policies, and an end to IFI involvement in privatization of public services and environmentally destructive projects. Read more Update \| 27 February 2006 IF-EYE Issue 2 Read the second issue of BIC's new monthly newsletter: the IF-EYE! Read more Update \| 22 September 2005 BIC launches IFI Info Brief series! Read more Update \| 24 June 2005 Track World Bank country strategy processes in Africa Read more Update \| 27 April 2005 Civil Society Groups Denounce World Bank Sponsored Forum A coalition of over 60 activist groups from more than 25 countries have signed onto a statement criticizing the World Bank’s Global Policy Forum. Read more Update \| 30 March 2005 BIC launches new Web page on Parliamentary Oversight of the IFIs Read more Update \| 15 February 2005 Over 50 organizations endorse statement calling for more democracy in World Bank president selection process The IFI Democracy Coalition demands a transparent and accountable process, open to candidates from all countries. Read more Update \| 3 February 2005 Top Bank official calls for transparent process to select new WB president According to FT article, IFC head Peter Woicke claims a secretive deal between the US and Europe to replace James Wolfensohn would damage the credibility of his successor. Read more Update \| 28 January 2005 Timeline now available for ADB, WB country strategy development in Asia Read more Correspondence \| 13 January 2005 BIC letter to FT challenges unbalanced decision-making structures at the World Bank Read more Update \| 23 August 2004 Launch of 'Penang Paper': A strategy report from 60 NGOs on the WB/IMF This report distills some key themes and messages that emerged from a January 2004 meeting in Penang. Read more Update \| 11 August 2004 Indian NGOs reject proposed 2005-2008 World Bank Country Assistance Strategy for India World Bank influence on Indian development policy condemned Read more Update \| 24 April 2004 ActionAid releases report on limits to civil society participation in PRSP process Read more Update \| 4 February 2004 This Web page is currently under construction Read more Print Email		Search Key Issues Access to Information at the World Bank Forests IFC Policies and Standards Review World Bank Energy Strategy Review World Bank Safeguards Review See also World Bank Governance and Anticorruption Strategy Stay Informed! Sign up for our e-newsletters. SignUp

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