IF-EYE Newsletter
Issue #44
Thursday, October 29, 2009
A publication of the Bank Information Center (BIC)
Welcome to the October 29, 2009 issue of the IF-EYE – the Bank Information Center’s monthly synthesis of key developments concerning international financial institutions. This issue spotlights a BIC report on the Independent Evaluation Group, the IFC consultation at the World Bank's Annual Meetings, the beginning of the revision process for the Bank's Energy Strategy, and a House of Representatives committee hearing on reforming the World Bank. Please send suggestions, contributions and subscription requests to: info@bicusa.org. Thanks for reading!
in this issue:
1. SPOTLIGHT: BIC report: World Bank needs to translate independent evaluations into practical reforms
2. SPOTLIGHT: Civil Society Sounds off on IFC policies in Istanbul
3. SPOTLIGHT: World Bank begins pre-consultation phase for Energy Strategy revision
4. SPOTLIGHT: House Committee on Financial Services examines transparency at the World Bank
5. Civil Society Updates
6. IFI Updates
7. Announcements and Resources
8. New at BIC! Aynabat Yaylymova
1. SPOTLIGHT: BIC report: The Potential of Evaluation: Creating Political Space for Dialogue and Action
10/5/2009 Bank Information Center
The report, authored by BIC board member Korinna Horta, found that the World Bank needs to translate independent evaluation into practical reforms. The report analyzed the impact of the World Bank Independent Evaluation Group's (IEG) findings through the last decade, concluding that Bank management rarely adopts the recommendations of the IEG.
Read more (BIC website)
2. SPOTLIGHT: Civil society sounds off on IFC policies in Istanbul
10/28/2009 Bank Information Center
The Annual Meetings of the World Bank/IMF in Istanbul were the site of the first in-person consultation for the IFC Social and Environmental Policy Review. This BIC article published by the Huffington Post discusses several key issues raised during the consultation. In addition to the in-person consultations, the IFC is hosting online discussions, including one on Wednesday, November 4.
read more
Civil Society Sounds off on IFC Policies in Istanbul, by Chad Dobson and Rebecca Harris, Bank Information Center, October 28, 2009 (Huffington Post)
BIC's IFC Policy and Standards Review Page (BIC website)
IFC Policy and Performance Standards Review (IFC website)
3. SPOTLIGHT: World Bank initiates pre-consultation phase for Energy Strategy revision
10/16/2009 Bank Information Center
The World Bank Group has posted an approach paper for the 2010 review and revision of its Energy Strategy to its website, along with a number of other documents to illustrate the ideas that have shaped the Group's viewpoint. This pre-consultation phase allows civil society to enter the consultations fully informed and prepared. Some civil society concerns include continued financing for coal and large hydroelectric projects in place of an emphasis on renewable energy, as well as strengthening the governance provisions of the policy
Read more (BIC website)
The World Bank's Energy Strategy Review Approach Paper (Acrobat PDF, 290 KB)
4. SPOTLIGHT: House Committee on Financial Services examines transparency at the World Bank
9/17/2009 Bank Information Center
The full committee hearing addressed the 2009 World Bank Disclosure Policy Review and the role of civil society participation in achieving successful development outcomes. BIC board member, Richard Bissell testified along with economist Joe Stiglitz, IFI specialist Alnoor Ebrahim, Center for Global Development Senior Fellow Vijaya Ramachandran, and National Security Archive Director Thomas Blanton. Committee Chair Barney Frank vowed to hold back on the Bank's proposed general capital increase until reforms are implemented.
Read more (BIC website)
5. Civil society updates:
2009 World Bank/IMF Annual General Meetings in Istanbul
On October 2nd through 7th, the World Bank and IMF held their Annual Meetings in Istanbul. [2:22:59 PM] Rebecca Harris: In addition to the official plenary sessions, the meetings also included IMFC and Development Committee sessions as well as the Civil Society Policy Forum, an opportunity for discussions between CSOs and World Bank/IMF staff. Bretton Woods Project has begun compiling summaries of all of the events, meetings, and communiqués.
read more about the annual meetings
World Bank-IMF Annual Meetings 2009 (Bretton Woods Project website)
BICster rebuts World Bank talking points on renewable energy
10/27/2009 Inter Press Service Europa
BIC consultant Heike Mainhardt-Gibbs was quoted in an IPS article about the World Bank's energy portfolio. While the Bank argued that renewables can only be a secondary part of a large country's energy production, Mainhardt-Gibbs pointed out that current Bank policy locks developing countries into fossil fuel dependence rather than moving them forward on a path toward clean energy.
read the article
World Bank looks for the cleaner way, by Niclas Rolander, IPS Europa, October 27, 2009 (IPS website)
Financial Times Letter to the Editor: Transparency is necessary for development
10/16/2009 Financial Times
The Financial Times printed a letter to the editor by Karen Lissakers of Revenue Watch Institute and Peter Rosenblum of Columbia University regarding an October 13 editorial, "Hazards of mining." The letter argues that a culture of secrecy in the mining industry has undermined its development potential.
read more
Read the letter to the editor (FT website)
Contracts Confidential: Ending Secret Deals in the Extractive Industries, by Peter Rosenblum and Susan Maples, Revenue Watch Institute, September 14, 2009 (Acrobat PDF, 536 KB)
World's poor paying the price for World Bank's fossil fuel addiction
10/5/2009 CEE Bankwatch Network
Environmental groups attending the Annual Meetings of the World Bank issued a press release calling on the World Bank to shift its energy portfolio away from fossil fuels and toward renewable energy sources. The Bank currently invests nearly 3 times more in fossil fuels than in renewables.
read the press release
World's poor paying the price for World Bank's sustained fossil fuel addiction, CEE Bankwatch Network, October 4, 2009 (CEE Bankwatch website)
Cambodian communities facing forced eviction launch Inspection Panel complaint against World Bank
10/2/2009 Several SE Asian CSOs
Phnom Penh residents facing the largest forced displacement of Cambodians since the Khmer Rouge era have filed a complaint to the World Bank Inspection Panel stating that they have suffered serious harm from a Bank-funded land-titling project.
Read more (BIC website)
Documentary highlights importance of transparency in development
9/30/2009 International Budget Partnership
The International Budget Partnership recently release “It's Our Money. Where's It Gone?”—a new documentary film on the work one of its partners, MUHURI (Muslims for Human Rights), is doing to involve communities directly in monitoring the Constituency Development Fund (CDF) in Mombasa, Kenya. The CDF allocates approximately one million dollars annually to each member of parliament to spend on development projects in his or her constituency but provides for no meaningful independent oversight. This is the story of ordinary Kenyans stepping in to do something about it. See how MUHURI uses “Social Audits” to involve communities in monitoring and holding their government accountable for managing the public's money and meeting the needs of its people, especially the poor and most vulnerable. More information can be found at IBP's website, http://www.internationalbudget.org/.
watch the film
It's Our Money. Where's It Gone? International Budget Partnership, September 30, 2009 (YouTube)
WB and Egyptian government before Egyptian courts for violating rights of Delta farmers
9/29/2009 Land Center for Human Rights
Egyptian NGO, Land Center for Human Rights, has filed an appeal on behalf of farmers in the Egyptian Delta, citing that the joint World Bank and Egyptian government 'West Delta project' violates the Egyptian constitution that should protect the rights of farmers, and not just the interests of wealthy investors.
Read more (BIC website)
BIC Info Brief: World Bank Environmental Policy Loans to BNDES
9/7/2009 Bank Information Center
In a new Info Brief entitled "World Bank Environmental Policy Loans to BNDES: Moving Money or Mainstreaming Environmental Sustanability?" BICECA Project Manager Vince McElhinny explores several recent Development Policy Loans to Brazil to see whether they are part of a genuine new strategy or just more of the same.
read the Info Brief
World Bank Environmental Policy Loans to BNDES: Moving Money or Mainstreaming Environmental Sustanability? by Vince McElhinny, Bank Information Center, September 7, 2009 (Acrobat PDF, 376 KB)
In Brazil, Paying Farmers to Let the Trees Stand
8/21/2009 New York Times
Deforestation is a major, if often forgotten, factor in climate change. This article explores several early attempts at creating cash incentives to change the direction of forestry policy in Brazil. BIC has worked on many of the issues surrounding such programs through our efforts focused on the Forest Carbon Partnership Facility.
read more
In Brazil, Paying Farmers to let the Trees Stand, by Elisabeth Rosenthal, August 21, 2009 (NYT website)
BIC's page on the Forest Carbon Partnership Facility (BIC website)
6. IFI Updates:
World Bank releases new draft of disclosure policy
10/5/2009 World Bank
Based on public consultations in 33 member nations, the World Bank has created a new draft of its disclosure policy. The board will vote on a the new policy in November.
read the policy draft
Toward Greater Transparency Through Access to Information, the World Bank, October 2009 (Acrobat PDF, 466 KB)
Treasury announces nominations for three international finance positions
9/28/2009 US Dept. of Treasury
The US Department of Treasury has announced nominees to fill three positions: the Assistant Secretary for International Finance, The Assistant Secretary for International Markets & Development, and the Executive Director for the United States of the Inter-American Development Bank
Read more (BIC website)
IFC suspends palm oil funding
9/9/2009 Bank Information Center
In response to pressure from civil society and a CAO report detailing violations of the IFC's social and environmental standards in Indonesia, IFC agreed to suspend all palm oil financing until the gaps in procedures that allowed these violations to happen are closed. Over the next six months, IFC will study failures in the palm oil sector and how they can be overcome in the future.
Read more (BIC website)
7. Announcements and Resources:
BIC hiring sustainable energy expert
We are looking for a politically savvy, experienced energy expert who can advocate for increased renewable energy technology adoption in low & middle income countries. S/he will lead the organization’s efforts in encouraging the World Bank Group to adopt a more progressive Energy Sector Strategy that will assist the poorest countries in securing its domestic energy needs without exacerbating climate change. The Energy Expert will oversee case studies, convene/work with civil society groups and energy experts in Asia, Africa, Central Asia, and Latin America, exchanging analyses and insights on how low-carbon energy options fit into a country’s national energy development plan and how these options can be supported by IFIs.
The Energy Expert will be based in BIC’s DC office and will report to the Executive Director.
Read More (BIC website)
IFC launches website dedicated to policy review
IFC officially began the review of its Performance Standards with launch of a website. The website provides background information on the performance standards and policy review and is also the portal for online consultations, including an online discussion on November 4.
read more
IFC Policy and Performance Standards Review (IFC website)
BIC's IFC Policy and Performance Standards Review webpage (BIC website)
8. New at BIC! BIC Welcomes Aynabat Yaylymova as ECA Program Manager
Aynabat Yaylymova joined BIC as the Europe and Central Asia Program Manager in September 2009. Prior to joining BIC, she worked as the Central Eurasian Leadership Academy (CELA) Project Manager. CELA works to enhance leadership skills in Central Asia and the Caucasus and to form an international network of leaders working toward improved regional cooperation. She is a co-founder of the Central Asia Educational Fund (CAEF) where she has initiated and managed educational and public health projects in the Central Asia region. Aynabat is a native of Turkmenistan.
Aynabat has worked with several civil society organizations in Turkmenistan and the USA. In Turkmenistan, she co-founded and led the Alliance for Responsible Community Action (ARCA), an organization dedicated to promoting civic education in Turkmenistan. She is an alumna of the first Central Eurasia Leadership Academy (CELA 1, July 2002). Aynabat obtained her MA in the theory and practice of human rights from the University of Essex, UK, and an MPA in non-profit management from the Andrew Young School of Policy Studies, Georgia State University.
Contact Aynabat at ayaylymova@bicusa.org