1 August 2008
The "Weekly Roundup" is a compilation of select news articles, blogs or other media concerning the international financial institutions from the past week.
African Development Bank:
For Bad Governance: ADB Joints World Bank To Punish Cameroon, July 31, 2008 (ICICEMAC website) - Cameroon is seriously paying the price for bad governance, losing out on aid package and cuts in development projects by its donor partners.
Africa: African Development Bank Must Be Strong And Active, By Charles W. Corey, July 28, 2008 (allAfrica website) - A "strong and active" African Development Bank (AfDB) is what Africa needs to help its "long-held promise" become a reality, the U.S. executive director-designate to the bank told the U.S. Senate July 17.
Asian Development Bank:
Pakistan seeks $900m ADB loan, August 1, 2008 (Khaleej Times Online) - Pakistan has urgently sought $900 million from the Asian Development Bank (ADB) to improve its fast depleting foreign exchange reserves. Informed sources said that the ADB which had earlier disbursed $850 million, out of $1.9 billion lined up for calendar year 2008, has been requested to rescue the government by releasing preferably in one tranche the amount of $900 million in August this year.
Bank boosts private sector work in Pacific, July 31, 2008 (Solomon Star website) - The Asian Development Bank (ADB) is significantly expanding its private sector development (PSD) activities in the Pacific Islands, including Solomon Islands.
Vietnam receives $1.1 mln for business, labor development, July 28, 2008 (Thanh Nien News website) - Japan and the Asian Development Bank (ADB) will provide the Hanoi government with US$1.1 million in two grants to help develop small and medium-sized enterprises and improve workers’ skills
Will There Be Any Reasonable Coal Policy? By Farid Hossain, July 27, 2008 (Phulbari Project blog) - In her farewell speech as the Bangladesh country representative of ADB Hua Du told a group of journalists that she had been impressed with the performance of Bangladesh’s economy.
ADB grants US$1.1 million for development of SMEs and vocational training, July 26, 2008 (Nhân Dân website) - The Asian Development Bank (ADB) has granted a total of US$1.1 million as non-refundable aid to help Vietnam prepare in two projects of boosting development of small and medium-sized enterprises (SMEs) and vocational training development project, the State Bank of Vietnam has announced on its website.
European Bank for Reconstruction and Development:
EBRD head says expects nod for Turkey application in October, July 29, 2008 (Reuters website) - Shareholders of the European Bank for Reconstruction and Development (EBRD) are likely to approve Turkey's application to benefit from the development bank's investments, the EBRD's new head said on late Tuesday.
Inter-American Development Bank:
Guatemala: Agrofuel company represses Indigenous communities, July 26, 2008 (Green Left website) - Rights Action calls for protests against Inter-American Development Bank (IADB) policies that fund agrofuel monoculture.
International Monetary Fund:
Haiti seeks IMF assistance, July 31, 2008 (iStockAnalyst website) - Haiti is seeking millions of dollars in assistance from the International Monetary Fund (IMF) to help it build on macroeconomic policies that have contributed to stabilising the economy of the impoverished Caribbean Community (CARICOM) country.
World Bank:
The Independent Evaluation Group Releases Report on IFC's Development Results for 2008, July 31, 2008 (MarketWatch website) - Performance of IFC-supported private sector operations in developing countries has improved in the last three years, says a new study released today by the Independent Evaluation Group (IEG) of the International Finance Corporation (IFC) - a member of the World Bank Group.
World Bank's Food Security Plan Temporarily Blocked at Doha Talks, By Misha Singh, July 31, 2008 (Independent People's Tribunal on the World Bank Group in India blog) - The World Bank of course stands with the US on the the battle between the US and India/China over protection for small farmers, and positions it as usual by suggesting that this will solve the crisis of poverty.
World Bank Group to Invest $15 Million in ‘Bank of Palestine’, July 31, 2008 (Palestine Media Center website) - The IFC, a member of the World Bank Group, said it will support the Bank of Palestine by investing $15 million in the bank’s operations in the West Bank and Gaza Strip to help strengthen the domestic financial sector and facilitate sustainable private sector development in the “highly challenging environment,” CPI Financial reported on Wednesday.
UPDATE 3-Biofuels major driver of food price rise-World Bank, By Leslie Wroughton, July 28, 2008 (Reuters website) - Large increases in biofuels production in the United States and Europe are the main reason behind the steep rise in global food prices, a top World Bank economist said in research published on Monday (Adds industry comment).
World Bank: We must focus on the enormous opportunities in the DRC, Eoin Young, UN Mission in DR Congo, July 28, 2008 (MONUC website) - World Bank managing director Ms. Ngozi Okonjo-Iweala made a work visit to the DRC from 23-25 July 2008. The theme of the evaluation visit was: “How to produce results and a visible impact in a post conflict environment.”
WB is ready for technical assistance and funding for Azerbaijan above $1.2 bn for two years, July 29, 2008 (Azerbaijan Business Center website) - WB country manager for Azerbaijan Gregory T.Jedrzeiczak said that besides crediting the Bank is ready to render greater volume of technical assistance for Azerbaijan.
World Bank Struggles to Prioritize Sustainability, by Ben Block, July 28, 2008 (Worldwatch Institute website) - World Bank investment projects fail to dedicate sufficient attention to long-term sustainability, an internal review said last week.
World Bank, Lagos invest $2.2bn in water project, By Rasheed Bisiriyu, July 28, 2008 (The Punch website) - An ambitious plan to inject fresh funds totalling $2.2bn into the production of clean water in Lagos has been unveiled.
Kyrgyz Premier, World Bank Officials Discuss Energy Loans, July 25, 2008 (iStockAnalyst website) - Kyrgyz Prime Minister Igor Chudinov met the head of the World Bank's office in Kyrgyzstan, Roger Robinson, and a sector manager, and an acting regional director of the World Bank in Central Asia, Moto Koichi.