12 September 2008
The "Weekly Roundup" is a compilation of select news articles, blogs or other media concerning the international financial institutions from the past week.
Asian Development Bank:
'ADB is committed to scaling up grants to Nepal', September 8, 2008 (Nepal News website) - A senior official of Asian Development Bank (ADB) has said the bank is committed to scaling up its grant allocation to Nepal in the coming years to help the country meet its development needs in the post conflict transition.
ADB to submit plan for $38 mln project in Cambodia, Xinhua, September 8, 2008 (China View website) - The Asian Development Bank (ADB) will submit next month to its board of directors a proposal for an emergency food aid project following the Cambodian government's request for 38 million U.S. dollars to ensure food security between 2008 and 2011, local newspaper reported Monday.
ADB funds Pakistan power sector, Xinhua, September 5, 2008 (China View website) - Pakistan's power sector, which is fighting to cope with growing demand, is getting a boost from a multi-tranche financing facility that worths 810 million U.S. dollars from the Asian Development Bank (ADB), the Manila-based bank said Friday.
European Bank for Reconstruction and Development:
EBRD promises to support large energy projects in Azerbaijan and Turkmenistan, September 12, 2008 (Azerbaijan Business Center website) - The European Bank of Reconstruction and Development (EBRD) is ready to continue its participation in Caspian oil and gas projects.
Inter-American Development Bank:
IDB launches interactive Biofuels Sustainability Scorecard, September 10, 2008 (eGov monitor website) - The Inter-American Development Bank released an interactive tool known as the Biofuels Sustainability Scorecard on September 9th, as part of a comprehensive effort to ensure that biofuel investments produce social, economic and environmental benefits.
International Monetary Fund:
More voting rights for India in IMF, September 12, 2008 (The Hindu website) - India is set to enhance its voice and participation in the International Monetary Fund (IMF) with the Union Cabinet according approval to the proposed amendment of its Articles of Agreement and increase in quota in the multilateral institution.
Pakistan won't be going to IMF -President Zardari, By Sahar Ahmed, September 9, 2008 (Reuters website) - Pakistan will not seek an assistance package from the International Monetary Fund (IMF), but will "tighten its belt", the country's new president Asif Ali Zardari said after being sworn in on Tuesday.
Sovereign funds sign up to code of conduct, By Krishna Guha, September 4, 2008 (FT website) - The world's main sovereign wealth funds agreed to a voluntary code of conduct yesterday and to consider establishing a standing committee to represent them in international policy debates.
IMF head pushes to enhance fund's effectiveness, By Harry Dunphy, September 4, 2008 (Forbes website) - Pressing ahead on making his organization more relevant, the head of the International Monetary Fund on Thursday named a committee of experts to recommend measures aimed at overhauling the fund's decision making process.
World Bank:
ANALYSIS-World Bank experiment in Chad reopens debate over role, By Lesley Wroughton, September 11, 2008 (Reuters website) - After two failed agreements, broken promises, and escalating conflict in Chad, World Bank President Robert Zoellick this week ended the Bank's biggest experiment in trying to show that Africa's oil wealth can help the poor.
World Bank Ends Effort to Help Chad Ease Poverty, By Lydia Polgreen, September 11, 2008 (NYT website) - When the World Bank agreed in 2000 to help finance a $4.2 billion pipeline to tap the undeveloped oil wealth of Chad, one of the world’s poorest and most unstable nations, the agreement was a novel response to a persistent African quandary: how to make the continent’s rich natural resources pay off for its people, not only for its powerful.
World Bank pulls plug on Chad oil pipeline agreement, By Lesley Wroughton, September 10, 2008 (Reuters website) - The World Bank on Tuesday pulled the plug on an oil pipeline agreement with Chad after long-standing tensions with the government over failed promises to spend the oil profits on programs for the poor.
IFC seeks to reward reform, by Norma Cohen, September 10, 2008 (FT website) - The International Finance Corporation plans to seek authority from its board to invest several hundred million dollars in emerging economies that have made the greatest business reforms, according to the organisation’s chief economist.
World Bank says full assistance contingent on fair elections in Cote d’Ivoire, September 7, 2008 (APA website) - The Vice-president of the World Bank (WB) for Africa, Obiageli Ezekwesili, has commended the progress for elections by the Ivorian authorities, but said her institution would wait until the holding of the country’s election before dishing out full support.
I.Coast cocoa sector needs complete restructuring: World Bank, September 6, 2008 (AFP website) - Ivory Coast's cocoa sector needs to be comprehensively modernised to deliver its full potential, the deputy chief of the World Bank for Africa, Obiageli Ezekwesili, said here Friday.
Ivory Coast could get debt relief mid-2009 - World Bank, By David Lewis, September 6, 2008 (Reuters website) - Ivory Coast could reach HIPC decision point by the end of the year and then clear over $3 billion of external debt by mid-2009 if upcoming IMF assessments show progress in economic reform, the World Bank said on Friday.
Leesburg man writes tell-all on World Bank corruption, September 6, 2008 (WTOP website) - Sixteen years at the World Bank showed Steve Berkman that corruption is everywhere.
US, Japan and World Bank go wild, September 5, 2008 (Joy Online) - ActionAid has accused the US, Japan and the World Bank for blocking key demands by developing countries and campaigners to make aid work for the poor.
World Bank Approves us$258 Million Lending For Costa Rica, Reuters, September 5, 2008 (Inside Costa Rica website) - The World Bank on Thursday approved a new three-year us$258 million lending program for Costa Rica to help improve education, telecoms reform, infrastructure development and tackle climate change.