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


bicusa.org/africa Home RegionsAfrica Africa Overview Key Issues Problem Projects Updates Resources Partners Contacts RSS Update \| 16 March 2010 World Bank to hold fifth meeting of the FCPF Participants Committee March 22 to 25 in La Lope, Gabon The Forest Carbon Partnership Facility will hold the fifth meeting of its Participants Committee in order to discuss several reforms and readiness proposals. Read more Update \| 16 March 2010 Five NGOs release a joint statement on REDD in the Democratic Republic of Congo Rainforest Foundation Norway, Rainforest Foundation UK, Greenpeace, FERN and Global Witness, released a joint statement on March 12, 2010, criticizing the Democratic Republic of Congo's REDD readiness proposal for the Forest Carbon Partnership Facility. Read more Update \| 16 March 2010 Invitation: Friends of the Earth meeting on proposed Eskom loan Friends of the Earth is planning a discussion with two South African activists about the proposed $3.75 million loan to Eskom which will fund the construction of the Medupi power station tomorrow at 1 p.m. Read more Update \| 12 March 2010 World Bank research supports renewable energy expansion World Bank research paper debunks conventional views that renewable energy is too costly for large-scale expansion. Read more Update \| 8 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 Clipping \| 4 March 2010 World Bank to delay Congo hydro project three years The Bank will delay the proposed refurbishment of the Inga 1 and 2 dams until 2016, and will cut back the size of the project. Staff said that the cutbacks were due to both the world financial crisis and problems specific to the project. Read more Press Clipping \| 4 March 2010 IFC halts Congo investments until dispute resolved After the Democratic Republic of Congo cancelled an IFC backed mining contract over disputed payments, the World Bank arm has declared that it will not begin new projects in the country until the dispute is resolved. The IFC is currently active in nine projects in Congo with a commitment of $104.6 million. Read more Update \| 23 February 2010 Eskom's R29 billion World Bank loan runs into opposition A broad coalition of civil society in South Africa is mobilizing opposition to the controversial loan proposed to help fund the Medupi coal plant. They threatened a boycott of World Bank bonds if the loan is approved. Read more Press Release \| 16 February 2010 PRESS RELEASE: South Africans say no to Eskom's R29 billion World Bank Loan Communities, environmental groups, academics and NGOs today call on the World Bank to cease and desist from a proposed loan of R29 billion ($3.75 bn) to Eskom. If this loan – which may come up for a Board vote in March or April – goes through, poor South Africans will have to bear the burden of Eskom’s debt and the World Bank’s cost recovery programme, and climate change will intensify. A world campaign begins now. Read more Update \| 14 December 2009 Ugandan environmentalist speaks out on large dams, renewable energy, and poverty alleviation In his op-ed featured on All Africa, Frank Muramuzi of the National Association of Professional Environmentalists analyzes the World Bank’s disastrous approach to energy lending, focusing specifically upon large hydropower projects in Uganda. He emphasizes the point that the Bank’s current policies lead to more poverty, further widening the gap between the rich and the poor. Read more Update \| 14 December 2009 GroundWork/Friends of the Earth South Africa publish new report on the World Bank and Eskom As the World Bank is expediting a $3.75 billion dollar loan to the South African power utility Eskom, mostly for the coal fired Medupi power station, a new report from South African NGO GroundWork looks at the state of Eskom, and what the influx of money will mean for the company and the country. Read more Update \| 9 December 2009 Heinrich Boell Foundation publishes new paper on forestry in Congo Basin BIC board member and environmental expert Korinna Horta considers the challenges and opportunities for REDD and forest governance in the Congo Basin region. Read more Press Clipping \| 24 November 2009 Eskom official sees World Bank loan decision in H1 2010 South Africa's power company believes that the World Bank will make a decision about whether to loan up to $5 billion to the company in the first half of 2010. The money would go toward the construction of the Medupi coal fired power station, as well as other energy projects throughout the country. Read more Update \| 5 November 2009 DPLs now over half of World Bank lending: Gaping hole in transparency and accountability In 2009, Development Policy Operations increased dramatically as a percentage of overall World Bank lending, from an average of about 33% to over 50%. Dogged by concerns that stem from a lack of a strong set of safeguard policies or clear results, this shift to greater dependence on DPLs/DPOs raises concerns about arbitrage by Bank clients to soften or avoid transparency and accountability commitments. Read more Update \| 5 November 2009 World Bank recapitalization conditioned on reforms The World Bank is quietly preparing the first capital increase in nearly 20 years to replenish the coffers after unprecedented lending in 2008 and the coming two years. Read more Update \| 30 October 2009 Over-priced Bujagali Dam to raise power costs With a price tag of $860 million and climbing, Bujagali is now amongst the most expensive hydropower plants in the world. Read more Press Clipping \| 30 October 2009 The Bujagali Hydro BIC's Africa Program Manager, Josh Klemm, is quoted in a This is Africa article about the problematic $860 million Bujagali Hydropower plant project in Uganda, financed, in part, by the IFC. Read more Update \| 11 September 2009 World Bank pledges support for DRC's Grand Inga dam Observers, however, are skeptical that the proposed project presents a solution to Africa's energy problems and whether the millions of Africans without access to electricity stand to benefit. Read more Update \| 4 September 2009 DRC cancels contract in IFC-backed mining project DRC mining review process struck down the contract, citing issues such as non-payment of royalties and failure to adhere to an agreed timetable. Read more Update \| 3 September 2009 AfDB doubles lending in response to financial crisis The frontloading of resources in response to the crisis has nearly exhausted AfDB's lending capacity for 2010, as the Bank explores ways to sustain its lending levels. Meanwhile, its support for disastrous projects like the Gibe III Dam in Ethiopia highlights risks of a stronger AfDB. Read more Update \| 10 August 2009 IFC to collaborate with China in Africa's oil industry Civil society groups remain skeptical that either is in a position to ensure the environmental and social sustainability of their investments. Read more Update \| 9 April 2009 GTI WB Update 3: brief comments on World Bank "Approach Paper" This update provides an analysis of the World Bank's Approach Paper entitled "Toward Greater Transparency: Rethinking the World Bank's Disclosure Policy", which was recently released. Read more Update \| 6 April 2009 World Bank Forest Carbon Partnership Facility meeting in Panama Read highlights from the 2nd Participants Committee Meeting of the FCPF, at which BIC served as an NGO observer. Read more Press Release \| 17 March 2009 World Bank to tackle review of information disclosure policy The World Bank launched the review of its information disclosure policy on Friday, March 13th with the public release of an Approach Paper. BIC and partners argue the case for greater transparency in Bank procedures. Read more Update \| 2 March 2009 Kenyan indigenous groups file complaint with AfDB on Ethiopian dam Requestors argue that the Gibe III Dam is set to deplete Lake Turkana with dramatic impacts on downstream communities in Kenya, and in the absence of public consultation. Read more Update \| 27 February 2009 Update on Forest Carbon Partnership Facility BIC to serve as NGO observer at the next meeting of the Committee of Participants for the Forest Carbon Partnership Facility (FCPF) that will take place on March 11-13 in Panama, Central America. Read more Update \| 20 February 2009 IFC approves offshore oil projects in Ghana despite serious outstanding concerns Civil society requests for a delay go unanswered as the project is approved in the absence of an environmental impact assessment and amid significant transparency and governance issues. Read more Update \| 23 December 2008 IFC pledges to increase commitment as mining sector is hit by economic downturn and low demand Meanwhile, IFC mining investments in Guinea face uncertainty after the government revoked half of the IFC-backed Simandou concession, and over the future of the massive Guinea Alumina Project as Guinea's president dies. Read more Update \| 19 December 2008 $5 billion in World Bank loans in the works for South Africa’s power utility African Development Bank also contributing record loans to address power shortage. Read more Update \| 18 December 2008 West African Gas Pipeline comes online at last Meanwhile, people displaced by the project finally receive monetary compensation, nearly four years after being impoverished through a resettlement process that denied them the option of the land compensation they were entitled to. Read more Update \| 16 December 2008 Zambia dam among IFC’s first casualties of the financial crisis Plummeting copper prices have caused investors to shy away from the $1.5 billion Kafue Lower Gorge Dam, which is designed exclusively for use by foreign mining companies. Read more Press Release \| 3 December 2008 Uganda dam slammed by World Bank appeals body Bujagali deal full of risk for one of world’s poorest countries. Read more Press Release \| 18 November 2008 IMF and World Bank need to bolster transparency measures in the extractive industries A newly released joint report between Bank Information Center (BIC) and Global Witness critically assesses the World Bank Group's and the International Monetary Fund's (IMF) success in increasing transparency in extractive industries in resource-rich countries. Read more Press Release \| 29 October 2008 New undemocratic “Washington Consensus” won’t fix global crisis, state over 630 groups from 104 countries A coalition of 630 organizations from 104 countries have issued a statement demanding a truly global response to the global crisis and laying out a set of principles for doing so. Read more Update \| 28 October 2008 The IMF is back in business In the wake of the global financial crisis, the International Monetary Fund (IMF) is experiencing a resurgence as the world’s "financial crisis firefighter." The upcoming G20 financial summit has placed the IMF as the central institution in charge of “crisis management” and reform of the international financial architecture. While there is much talk of “overhauling” the IMF through fundamental reforms, the same leaders who say this are also talking about broadening the scope of the IMF’s power and influence. Undoubtedly empowered by the contagion of financial meltdown in middle-income countries, the IMF is now scurrying around the globe signing new multi-billion dollar loan deals with a spate of new countries, most notably the Eastern European “Baltic tiger” countries. 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 \| 12 September 2008 World Bank announces withdrawal from Chad-Cameroon Pipeline after early repayment The World Bank’s request amounts to an admission of failure in one of its most controversial and disastrous projects – once touted as a “model” for high-risk projects - after the Chadian government repeatedly used its newfound oil wealth in contravention of its agreements to invest in poverty reduction. Read more Update \| 5 September 2008 Weekly roundup: IFIs in the news The "Weekly Roundup" is a compilation of select news articles, blogs or other media concerning the international financial institutions from the past week. Read more Update \| 29 August 2008 Weekly roundup: IFIs in the news The "Weekly Roundup" is a compilation of select news articles, blogs or other media concerning the international financial institutions from the past week. Read more Update \| 22 August 2008 Weekly roundup: IFIs in the news The "Weekly Roundup" is a compilation of select news articles, blogs or other media concerning the international financial institutions from the past week. Read more Update \| 18 August 2008 World Bank announces countries eligible for avoided-deforestation credits Democratic Republic of Congo (DRC) and five other African countries were included in a list of 14 that will take part in the Bank's controversial Forest Carbon Partnership Facility (FCPF). Read more Update \| 19 August 2008 Bretton Woods institutions send mixed messages about China’s role in Africa Since the Chinese economy has taken off and it has increasingly looked to Africa to provide raw materials, the World Bank and IMF have been confronted with the question of how to respond. Recent statements by the institutions have shown that these responses are careful and at times contradictory. Read more Update \| 15 August 2008 Weekly roundup: IFIs in the News The "Weekly Roundup" is a compilation of select news articles, blogs or other media concerning the international financial institutions from the past week. Read more Update \| 11 August 2008 IFC considers record mining investment in Guinea as its Simandou concession comes under dispute The International Finance Corporation's (IFC) $35 million investment in a Guinea iron mine is in jeopardy after the government rescinded a deal with mining company, Rio Tinto. At the same time, the IFC is exploring the possibility of a $500 million stake in a massive aluminum project in the West African country. Read more Update \| 8 August 2008 Weekly roundup: IFIs in the news The "Weekly Roundup" is a compilation of select news articles, blogs or other media concerning the international financial institutions from the past week. Read more Press Release \| 5 August 2008 World Bank acknowledges serious flaws in West African Gas Pipeline But questions on compensation for displaced, “upstream” impacts, and gas flaring remain unanswered. Read more Update \| 1 August 2008 Weekly roundup: IFIs in the news The "Weekly Roundup" is a compilation of select news articles, blogs or other media concerning the international financial institutions from the past week. Read more Update \| 25 July 2008 Weekly roundup: IFIs in the news The "Weekly Roundup" is a compilation of select news articles, blogs or other media concerning the international financial institutions from the past week. Read more Update \| 18 July 2008 Weekly roundup: IFIs in the news The "Weekly Roundup" is a compilation of select news articles, blogs or other media concerning the international financial institutions from the past week. Read more Update \| 11 July 2008 Weekly roundup: IFIs in the news The "Weekly Roundup" is a compilation of select news articles, blogs or other media concerning the international financial institutions from the past week. Read more Update \| 23 July 2008 World Bank’s lending for fossil fuel skyrockets as it positions itself as the “climate bank” As the World Bank prepares to launch two new climate investment funds at the upcoming G8 summit, and positions itself as the "climate bank," new statistics developed by the Bank Information Center show that the World Bank's private sector arm, the International Financial Corporation (IFC), increased its lending for fossil fuel projects by a staggering 165% in FY2008. Taken as a whole, the World Bank Group increased its fossil-fuel lending by 60% in the same period. Read more Update \| 1 July 2008 BIC's new handbook for advocacy on extractive industry revenues Bank Information Center has recently released it's new "Handbook for Advocacy on Extractive Industry Revenues: Good Practices and the IMF’s Guide on Resource Revenue Transparency." Read more Update \| 27 June 2008 Weekly roundup: IFIs in the news The "Weekly Roundup" is a compilation of select news articles, blogs or other media concerning the international financial institutions from the past week. Read more Update \| 23 June 2008 World Bank continues to push African hydro despite concerns over vulnerability to climate change World Bank involvement in the proposed Inga and Kafue dams has brought criticism over the continued reliance on hydro in a warming world, and intentions to power foreign mining companies. Read more Update \| 21 June 2008 Newmont prepares mining operations in Ghana forest reserve As Newmont, the world's largest mining company prepares for gold mining operations in Ghana, civil society groups challenge the purported benefits for local communities. Meanwhile, the International Finance Corporation (IFC) has come under fire for the environmental and social legacies of its gold mining investments in Ghana and its plans proceed to begin the next phase of Newmont's controversial Ahafo gold project. Read more Update \| 21 June 2008 Colin Bruce named to #2 post in World Bank's Africa department The World Bank's Country Director for Kenya, who was criticized over the Bank's portfolio in the country as well as a controversial leaked memo during the country's recent elections, will be the new Bank Director of Operations and Strategy for Africa. Read more Update \| 13 June 2008 Weekly roundup: IFIs in the news The "Weekly Roundup" is a compilation of select news articles, blogs or other media concerning the international financial institutions from the past week. Read more Update \| 6 June 2008 Weekly roundup: IFIs in the news The "Weekly Roundup" is a compilation of select news articles, blogs or other media concerning the international financial institutions from the past week. Read more Update \| 30 May 2008 Congolese groups denounce disinformation campaign by industrial logging industry During the French environment minister's recent visit to the Democratic Republic of Congo (DRC), Congolese civil society organizations released a statement drawing attention to the alarming situation in the Congo forests and the destructive activities of logging companies. Read more Update \| 29 May 2008 World Bank sets up $1.2 billion facility for food aid The World Bank announced today that it has set up a financing facility in the order of $1.2 billion to assist with the global food crisis. Read more Update \| 28 May 2008 As developing countries prosper, IMF influence wanes The International Monetary Fund (IMF) lending is at an all time low, and the institution is forced to redefine its role as developing countries benefit from the availability of other sources of finance. Read more Update \| 30 May 2008 Weekly roundup: IFIs in the news The "Weekly Roundup" is a compilation of select news articles, blogs or other media concerning the international financial institutions from the past week. Read more Update \| 23 May 2008 Weekly roundup: IFIs in the news This is a new feature from BIC! This "Weekly Roundup" is a compilation of select news articles, blogs or other media concerning the international financial institutions from the past week. Read more Update \| 16 May 2008 Weekly roundup: IFIs in the News This is a new feature from BIC! This "Weekly Roundup" is a compilation of select news articles, blogs or other media concerning the international financial institutions from the past week. 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 \| 9 May 2008 Weekly roundup: IFIs in the news This is a new feature from BIC! This "Weekly Roundup" is a compilation of select news articles, blogs or other media concerning the international financial institutions from the past week. Read more Update \| 2 May 2008 Weekly roundup: IFIs in the news This is a new feature from BIC! This "Weekly Roundup" is a compliation of select news articles, blogs or other media concerning the international financial institutions from the past week. Read more Update \| 9 April 2008 Bank plans more infrastructure, mining and forestry projects in DRC The new Country Assistance Strategy for the Democratic Republic of Congo, which the Bank has kept secret, suggests a continued emphasis on the natural resource sectors as sources of growth going forward and predicts at least $1.4 billion in new lending over the next three years. 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 \| 3 April 2008 Controversial EIB-backed mining project in the Congo to face contract renegotiation DRC mining contract commission to push for a greater share in the Tenke Fungurume mining concession, one of the largest copper-cobalt deposits in the world. Critics charge that EIB's investment in the highly contested project before the conclusion of the contract review was "irresponsible." Read more Update \| 2 April 2008 East Africa dam to face delays; vulnerability to drought raises questions over project’s viability The World Bank is considering financing a hydroelectric dam between Burundi and Tanzania that would boost mining production in East Africa. But in an area prone to drought, particularly with the onset of climate change, questions remain about the project's sustainability and whether it will be worth the projected $190 million cost. Read more Update \| 3 April 2008 World Bank again accused of tolerating corruption in Kenya Wall Street Journal editorial targets corruption in World Bank projects in Kenya, spurring renewed complaints about the Bank’s alleged contribution to a climate of loose ethics and corruption in the Kenyan government. Read more Update \| 13 March 2008 Food riots hit West and Central Africa Rising global food prices have led to outbreaks of civil unrest in West and Central Africa. While the International Monetary Fund (IMF) and the World Bank plan their responses to the growing crisis, Cameroon, site of worst strife, relaxes IMF policies on wages and prices. Read more Update \| 6 March 2008 President of Chad nullifies World Bank agreement to grab oil money and crack down on opponents As a significant rebel threat to his government appears to recede, Chadian President Idriss Deby has clamped down on political opponents and bypassed controls established by an agreement with the World Bank to redirect oil revenues for military use. Read more Update \| 19 February 2008 AfDB commits 60 percent of its resources toward ambitious infrastructure scheme Proposed projects would include transcontinental transportation corridors that would require a huge outpouring of money. They would serve to benefit exporters and, by extension, transnational companies that profit the most from Africa’s commodities. 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 \| 8 February 2008 Bank President reiterates support for agriculture at African Union summit Robert Zoellick told Africa's leaders the World Bank wanted to expand its "efforts to help countries produce their own food, instead of relying on imports.” This would represent a complete reversal of Bank policy which has focused thus far on encouraging Africa to devote more land and resources to growing commodities, and to rely on international markets to purchase the food they were no longer growing. Read more Update \| 7 February 2008 Zambia to revise “unfair and unbalanced” mining tax rates set by World Bank While the World Bank has expressed its support for the move, calling the new fiscal regime "more equitable," critics counter that the Bank was responsible for insisting on rock-bottom tax rates in 1998 that have deprived the government of much-needed revenue as copper prices soared. 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 \| 1 February 2008 Zoellick pledges support for post-conflict countries during Liberia visit The World Bank President also spoke of the need to “speed up the process of clearing the arrears of countries that have fallen behind in payments to multilateral lenders.” Read more Update \| 30 January 2008 Civil Society Guide to IFI Policy Reviews Read more Update \| 18 January 2008 IFC to push private health care in Africa Concerns abound about vague promises to exempt the impoverished from payment, while debate continues over whether public institutions should allocate resources to private providers at the expense of the public health sector. Read more Update \| 18 January 2008 Tanzania is awarded nearly $8 million in dispute over failed water privatization A UK tribunal ruled in favor of the government after finding that water services deteriorated following a controversial, non-competitive privatization process backed by the World Bank. A separate case brought by the company against Tanzania worth $20 million is being decided behind closed doors at a World Bank court. Read more Update \| 17 January 2008 World Bank, EIB to release funds for Bujagali Dam as investigations into safeguard violations continue Construction of the dam proceeds despite an ongoing investigation into claims presented by civil society groups that the project violates environmental and social standards of both the World Bank and the African Development Bank (AfDB). Read more Update \| 18 January 2008 World Bank reiterates intentions to collaborate with China in Africa During a recent visit to China, Bank President Robert Zoellick appeared keen to assuage concerns that China’s massive loan packages to Africa could compromise recent efforts to reduce some African countries’ debt burdens. Zoellick also praised China for its decision to contribute for the first time to the World Bank’s International Development Association (IDA). Read more Update \| 17 January 2008 EPA deadline passes with many issues unresolved Only a handful of countries have signed onto the highly contested free trade agreements with Europe, which critics argue would limit governments’ ability to protect local firms or stipulate certain investment conditions. Read more Update \| 16 January 2008 Rebuked by internal investigation, World Bank plans to do more in DRC forest sector, but will it do better? An Inspection Panel report on the World Bank’s safeguard policy violations in its Democratic Republic of Congo (DRC) forest sector operations prompts discussion on new approach and greater role for Pygmies in decision-making about the future of the world’s second-largest rainforest. Read more Update \| 11 January 2008 World Bank leak suggests support for Kibaki in disputed Kenyan elections Internal memo raises questions about the institution's political neutrality in Kenya. Read more Update \| 18 December 2007 Donors promise $8.9 billion to the African Development Bank AfDB President Donald Kaberuka praises the United Kingdom's “concretization of commitments to double aid to Africa” made at the Gleneagles G-8 summit in 2005. However, Kaberuka’s willingness to credit the UK with “concretizing” its pledges appears overly generous. To date, the UK and the G-8 have fallen well short of the mark in meeting their promises. Read more Update \| 18 December 2007 West Africa Gas Pipeline to start operations by year’s end World Bank's Inspection Panel expected to submit findings of its investigation into claims made by local communities that the project violated the Bank's environmental and social policies. Read more Update \| 11 December 2007 Press highlights World Bank blunders in Congo's forest Last week, the Financial Times published an article on the World Bank's errors in its forest operations in the Democratic Republic of Congo (DRC) and allegations of support for illegal logging in the country by the International Finance Corporation (IFC). Just two days later, the IFC announced it would sell its stake in Olam International Ltd., the Singaporean commodity trading company accused of "environmental malpractice" in the world's second largest rainforest. As those gathered in Bali for the United Nations conference on climate change discuss the importance of forests to the future health of the planet, the Bank's missteps in Congo deserve a closer look. Read more Update \| 6 December 2007 Malawi wins results and recognition for rebuffing World Bank prescriptions A prominent New York Times article describes how Malawi went from food aid recipient to regional food provider in just two years after re-introducing fertilizer subsidies for its low-income farmers. The move contravened years of policy guidance from the World Bank and IMF, which warn against such distortions of the “free market.” But donors find it hard to argue with success, especially because in violating what its wealthy benefactors in Europe and North America say, Malawi is doing precisely as they do. Read more Update \| 27 November 2007 Comment: Try as it might, the World Bank cannot hide its failings The World Bank touted it's meeting with a delegation of Pygmies from the Democratic Republic of Congo (DRC) during the Bank's Annual Meetings in October. But as Simon Counsell of Rainforest Foundation UK points out, the Bank has consistently ignored the findings of the quasi-independent Inspecition Panel and violated its own "safeguard policies." Read more Update \| 15 November 2007 Nurses, teachers in Burundi strike over IMF-mandated constraints Thousands of teachers and hundreds of nurses in Burundi went on strike last month to protest the government’s inability to meet its commitments to increase wages and improve working conditions. Read more Update \| 14 November 2007 Government panel to recommend cancellation or renegotiation of over 60 mining contracts in DRC Leaked report lists IFC-sponsored Kalukundi concession among contracts recommended for renegotiation. Read more Update \| 14 November 2007 IFC maintains “clear development benefits” result from its African mining investments The claim runs contrary to a recent report which found that over 40 percent of IFC projects implemented between 1996 and 2006 failed to deliver positive development results. Read more Update \| 14 November 2007 BHP Billiton eyes Congo's Inga dam complex to power new $3 bn aluminum smelter According to Bloomberg, the plant would require the use of up to two-thirds of the dam's output. The World Bank previously indicated that it may be willing to support the expansion of the dam. Read more Update \| 13 November 2007 IMF cancels Liberia's debt The International Monetary Fund (IMF) announced yesterday that it will write off Liberia's debt by securing $842 million from its own institutional reserves and donor country pledges. The move comes after the Fund endured heavy criticism in the international media last month for not following through on its commitment to Liberia, eighteen months after the country had met the IMF's stringent policy conditions. Read more Update \| 7 November 2007 NGO coalition calls for release of report on mining contracts in the DRC A coalition of non-governmental organisations from Europe, North America, and the Democratic Republic of Congo (DRC) launched an international appeal today demanding the publication of the final report of the ministerial commission on the review of mining contracts without delay. Read more Update \| 17 October 2007 AfDB, World Bank and WTO push Aid for Trade initiative at Tanzania conference Critics claim that Aid for Trade schemes could aggrevate rather than alleviate poverty, particularly in Africa. Read more Update \| 18 October 2007 In bid to spur increased pledges from donor governments, IBRD & IFC commit $3.5 billion of their profits to IDA Questions remain as to whether the IFC will use its role as a major IDA donor to deflect criticism of its own investments. Read more Update \| 19 October 2007 Internal watchdog slams World Bank agriculture programs in Africa since 1991 As the World Bank launches its latest flagship World Development Report, this year on "Agriculture for Development," the Independent Evaluation Group's report clearly acknowledges that the Bank's engagement with the most important sector in its highest-priority region has largely been a failure. Read more Update \| 9 October 2007 World Bank tribunal in The Hague On October 15th, a public hearing on the World Bank will take place in The Hague. The hearing aims to raise the debate on the legitimacy of the World Bank and influence the aid distribution process. 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 \| 4 October 2007 AfDB approves funding for controversial Tenke mine in the DRC The African Development Bank (AfDB) will contribute $100 million despite ongoing review into alleged irregularities associated with mining concession contract. Read more Update \| 4 October 2007 IFC to step up operations in "high risk" countries Last week, International Finance Corporation (IFC) chief Lars Thunell told Reuters that the IFC is "trying to do more in high-risk countries," adding that it is investing more in post-conflict countries such as the Democratic Republic of Congo, Liberia, Lebanon and Sierra Leone. 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 Update \| 25 September 2007 Questions loom large as Bank pushes carbon finance for forest protection The World Bank has approved plans to proceed with the development of the controversial Forest Carbon Partnership Facility, although many critical issues remain unanswered. Civil society groups are concerned that the initiative may end up being profitable for governments, companies and investors without any real reductions in carbon emissions, true protection of forest resources, or equitable benefits for the poor. Read more Update \| 24 September 2007 IFC continues push for Africa’s minerals Proposed copper-cobalt and gold projects re-enforce civil society's misgivings about the International Finance Corporation's commitment to environmental and social sustainability. Read more Update \| 25 September 2007 IFIs in Africa News Briefing #24 Summaries and commentary on the latest news articles from July 14 to September 21 on the international financial institutions (IFIs) in Africa. Sign up now to receive this publication in our new electronic newsletter format. Read more Update \| 25 September 2007 AfDB approves largest ever private investment in South Africa’s utility giant, Eskom The African Development Bank's $500 million loan to support Eskom's expansion raises the question of whether it wields sufficient leverage to ensure adherence to its social and environmental safeguards. Read more Update \| 25 September 2007 AfDB promises increased aid to DR Congo under new fragile states policy Some observers are apprehensive about the trend among international financial institutions (IFIs) to focus on fragile states, particularly in Africa, and are concerned that these institutions may wield undue leverage over cash-strapped governments. 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 \| 6 September 2007 World Bank launches market-driven initiative to "light up" Africa The Bank's new "Lighting Africa" program, which was launched this week, seeks to catalyze business interest in developing innovative ways to bring light to millions of Africans who are not connected to the electricity grid. While the attention to off-grid and non-fossil fuel based electricity supply in Africa is welcome, it remains questionable whether the private sector can meet the Bank's goal of delivering affordable lighting to 250 million people on the continent by 2030. Read more Update \| 6 September 2007 As the Bank trumpets record lending to Africa, is it pushing quantity over quality? While the World Bank pumps more money to sub-Saharan Africa, much of it to finance large-scale infrastructure projects, poverty levels across the continent continue to rise. How effective is the Bank's aid to Africa? Read more Update \| 27 August 2007 Bujagali dam continues to make headlines Although construction of the controversial hydropower project in Uganda began last week, debate continues over the dam's design, cost and impacts. A recent article in the Baltimore Sun provides details. Read more Update \| 23 August 2007 Communities in Ghana appeal to Inspection Panel about Bank landfill project The Centre on Housing Rights and Evictions (COHRE) filed a request for inspection of the World Bank's Kwabenya landfill project in Accra, the capital of Ghana. They argued that the project would displace a significant portion of the Agyemankata community and cause health problems for residents, who were not adequately consulted. Read more Update \| 23 August 2007 NPR covers Bujagali dam controversy Last week, National Public Radio's Morning Edition broadcast a story on the debate surrounding the World Bank-financed Bujagali dam in Uganda. 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 \| 16 August 2007 Reflecting Africa-wide trend, China emerges as key investor in Chad China's "no-strings-attached" investments in Africa appear to many a welcome alternative to the conditional loans offered by the World Bank and IMF. But what consequences will China's growing involvement on the continent have for Africans? Read more Update \| 26 July 2007 World Bank calls for improved family planning, particularly in Africa A new World Bank report warns reproductive health services are being overlooked in the fight against poverty. Read more Update \| 21 July 2007 World Bank governance report paints rosy picture of Africa Meanwhile, divisions on the Bank's Board of Directors over the report's findings could present Zoellick with his first test of leadership. Read more Update \| 21 July 2007 AfDB private sector investments reach record high Unprecedented increase raises question of whether the Bank wields sufficient leverage to ensure compliance with its social and environmental safeguards. Read more Update \| 8 September 2009 IFIs in Africa News Briefing #34 Summaries and commentary on the latest news articles on the international financial institutions (IFIs) in Africa. Read more Update \| 20 July 2007 EIB approves DR Congo mining project despite ongoing government review The European Investment Bank this week approved €100 million ($130 million) for the controversial Tenke Fungurume mining project, despite calls from civil society for public lenders to await the outcome of an ongoing examination of 60 mining contracts. Read more Update \| 13 July 2007 Chevron's Nigeria pipeline under investigation World Bank-backed project to receive Inspection Panel visit. Read more Update \| 11 July 2007 Civil society organizations call for public lenders to respect DR Congo mining contract review Critics argue that OPIC's expected investment in the Tenke Fungurume mine appears to prejudge the outcomes of the ongoing government review process. Read more Update \| 6 July 2007 Congo government set to cancel illegal logging concessions Civil society remains concerned that the criteria for cancellation in the legal review may not be strictly applied, and that many dubious titles could be confirmed in the process. Read more Update \| 5 July 2007 IMF to prioritize post-conflict countries in Africa Critics question whether the Fund has the expertise to engage countries emerging from conflict, and are concerned that the it might exert undue leverage over cash-strapped governments with little bargaining power. Read more Update \| 5 July 2007 IFC investment in Africa tops $1 billion Plans to scale up investments in mining, large infrastructure, and private education raises concerns among civil society groups skeptical of the IFC's commitment to development. Read more Update \| 6 July 2007 Africa is Bank’s selling point as it seeks donor dollars for IDA Critics argue that the Bank and many of its borrowers are ill-equipped to effectively utilize the substantial increase in aid requested on Africa's behalf. Read more Update \| 6 July 2007 IFIs in Africa News Briefing #22 Summaries and commentary on the latest news articles from between June 16 and 29 on the international financial institutions (IFIs) in Africa. Sign up now to receive this publication in our new electronic newsletter format. Read more Update \| 11 August 2006 Ivorian Prime Minister admits failure of Bank/IMF cocoa sector reforms Read more Update \| 15 June 2007 Controversy surrounding Bujagali dam persists as Lake Victoria crisis continues Just weeks after the World Bank Group approved $360 million in loans and guarantees for the Bujagali Hydroelectric Dam, the project is again in the news following renewed debate over the crisis facing Lake Victoria. Read more Update \| 18 June 2007 IFC and China Exim to co-finance investments in Africa Many question banks' rhetoric of "support[ing] environmentally and socially sustainable investment" on the continent, citing dubious track records. Read more Update \| 18 June 2007 IMF tells Zambia to raise taxes and increase fiscal discipline Critics maintain opposition to IMF tax proposals, call on government to demand equitable royalty rates for Zambia's lucrative copper mining. Read more Update \| 16 June 2007 IFIs in Africa News Briefing #21 Summaries and commentary on the latest news articles from between May 26 and June 15 on the international financial institutions (IFIs) in Africa. Sign up now to receive this publication in our new electronic newsletter format. Read more Update \| 15 June 2007 IMF predicts DR Congo to "reap the benefit" of its mineral wealth Critics contend that even with the upcoming review of 60 mining contracts signed during the war and by the interim government, the Congolese stand to benefit little. Read more Update \| 14 June 2007 Zoellick pledges to keep Africa atop agenda Uncontested World Bank presidential nominee makes no major break from Wolfowitz's agenda during Africa tour. Read more Update \| 29 March 2007 Anti-corruption advocate endorses renegotiation of Zambia’s mining contracts Eva Joly encourages Zambian parliamentarians to demand greater revenues so that the country could benefit from its lucrative copper industry Read more Update \| 20 July 2007 IFI Extractive and Energy Project Spreadsheets Find out what extractive industry (oil, gas, mining) and energy projects the international financial institutions (IFIs) are financing in your country. Read more Update \| 12 June 2007 World Bank ‘sees green’ in G8 declaration While NGOs express disappointment at the G8’s failure to take any bold steps on climate change during the recent summit in Heligendamm, Germany, the World Bank has praised the meeting outcomes and applauded the emphasis on market mechanisms to combat climate change. Read more Update \| 1 June 2007 World Bank promotes carbon trading to reduce poverty in Africa Critics counter that carbon market amounts to "a carbon accounting loophole for industrialized countries, instead of a tool for climate protection." Read more Update \| 29 May 2007 As fiscal year nears end, World Bank accelerates Africa lending Civil society fears that Bank is cutting corners in safeguards review in rush to approve loans, posing potentially serious risks to affected communities and the environment. Read more Update \| 4 June 2007 World Bank and China Exim bank team up on lending to Africa Collaboration to focus on large infrastructure; move seen as attempt by World Bank to avoid growing competition with Chinese counterpart. Read more Update \| 1 June 2007 IFIs in Africa News Briefing #20 Summaries and commentary on the latest news articles from between May 12 and 25 on the international financial institutions (IFIs) in Africa. Sign up now to receive this publication in our new electronic newsletter format. Read more Update \| 14 May 2007 Ghanaian CSOs call for greater control over mining companies Local groups argue that the controversial IFC-sponsored Ahafo gold mine seriously threatens the environment and livelihoods. Read more Update \| 15 May 2007 AfDB annual meetings convene in Shanghai this week China’s offer to host the event, which brings together senior finance and development officials from African and donor governments, speaks volumes about changing Sino-African relations. Read more Update \| 15 May 2007 IFIs in Africa News Briefing #19 Summaries and commentary on the latest news articles from between April 21 and May 11 relating to international financial institution (IFI) involvement in Africa. Read more Update \| 14 May 2007 While African governments continue to support Wolfowitz, NGOs demand his resignation African civil society rejects the idea of Wolfowitz as Africa's friend, arguing that the Bank continues to undermine development on the continent. Read more Update \| 9 May 2007 Experts selected for AfDB accountability mechanism Controversial Uganda dam to become the subject of the first trial case for the African Development Bank's new Independent Review Mechanism. Read more Update \| 7 May 2007 Examining the African Development Bank: A Primer for NGOs Read more Update \| 8 May 2007 BIC produces new primer for NGOs on the African Development Bank The Primer aims to help Africa’s civil society better understand what the AfDB is, how it may affect them, and what they can do to influence it. Read more Update \| 30 April 2007 ActionAid confronts IMF on impacts of its policies in Africa A new report documents the results of IMF macroeconomic policies on governments' ability to hire teachers. Read more Update \| 27 April 2007 IFIs in Africa News Briefing #18 Summaries and commentary on the latest news articles from April 1 - April 20 relating to International Financial Institution (IFI) involvement in Africa. Read more Update \| 26 April 2007 Civil society responds to WB approval of financing for Bujagali In a press release following yesterday's decision, NGOs accuse the Bank of ignoring inconvenient truths about climate change, hydrology and fisheries. They warn the project may threaten Lake Victoria and leave the majority of Ugandans in the dark. Read more Update \| 27 April 2007 World Bank gives green light to controversial Bujagali Dam in Uganda Bank approves $360 million financing package for dam on Victoria Nile despite concerns about climate change, environmental impacts and cost. Read more Update \| 27 April 2007 World Bank takes stock of its strategy in Africa The World Bank produced a progress report on its Africa Action Plan in advance of the Spring Meetings in Washington, DC earlier this month. How has the Bank measured up to its commitments, and what should Africa expect moving forward? Read more Update \| 24 April 2007 Zambia ordered to pay $15.4 million plus to vulture fund The UK Royal Court of Justice in London ruled that Zambia must pay Donegal International $15.4 million plus an undetermined share of Donegal's legal fees. Donegal purchased Zambia's debt for $4 million, then sued the impoverished nation for over $50 million. Read more Update \| 16 April 2007 Environmental groups release new "non-completion" report on Chad-Cameroon pipeline Report highlights disrepancies between conclusions of the World Bank and the official project monitors. Read more Update \| 13 March 2007 IMF’s work in Africa found wanting New report shows that IMF's lending in Africa is "confused, vague, lacks transparency and suffers from a large gap between rhetoric and practice." Read more Update \| 13 April 2007 World Bank dialogue suggests potential support for controversial Cameroon dam Civil society remains concerned about limited public participation and energy planning, risks to Chad-Cameroon pipeline and forest reserves, and expectations that the dam would serve industrial interests. Read more Update \| 13 April 2007 Inspection Panel to investigate policy violations in West Africa Gas Pipeline Investigation to focus on issues of compensation, safety, livelihood impacts, and gas flaring Read more Update \| 16 April 2007 Ugandan police target demonstrators protesting destruction of forests 27 arrested after protest turns violent; environmental groups condemn violence, may face charges. Read more Update \| 13 April 2007 Impact of Chad-Cameroon project on local population worse than expected The World Bank-backed Chad-Cameroon pipeline is once again in the news - this time following the release of a new report which documents the heavy toll that oil development has taken on the local population in southern Chad. Read more Update \| 12 April 2007 Investors hold roundtable to discuss Inga Dam Many remain skeptical that the proposed project represents a solution to Africa’s energy woes Read more Update \| 12 April 2007 CSOs register complaint with World Bank Inspection Panel over proposed Bujagali hydroelectric project Ugandan groups highlight risks of project to hydrology of Lake Victoria, sustainability of the energy production, lack of comprehensive needs and options assessment, anticipated impacts on local communities Read more Update \| 12 April 2007 IFIs in Africa News Briefing #17 Summaries and commentary on the latest news articles from between March 17 and 30 relating to international financial institution (IFI) involvement in Africa Read more Update \| 11 April 2007 Greenpeace releases new report critical of World Bank's role in DRC's forest sector Report entitled "Carving up the Congo" reveals that the world's second largest rainforest is under threat. Read more Update \| 21 March 2007 IFIs in Africa News Briefing #16 Summaries and commentary on the latest news articles from between March 3 and 16 relating to international financial institution (IFI) involvement in Africa Read more Update \| 19 March 2007 World Bank set to confirm new VP for Africa Reuters reports that Nigeria’s Minister of Education, Dr. Obiageli Ezekwesili, is expected to become the next Vice President for Africa at the World Bank. Read more Update \| 16 March 2007 Wolfowitz's pledge to Africa has hollow ring NGO reports dramatic drop in World Bank lending for Africa during current fiscal year, predicts decline in quality of loans during final quarter if the Bank attempts to meet its commitments. Read more Update \| 14 March 2007 IFC to double number of mining investments in Africa Taking advantage of rising commodity prices, the International Finance Corporation plans to expand its hard rock mining activities to incorporate copper, aluminum and iron ore Read more Update \| 14 March 2007 Press Release: Grand Inga, Premature Panacea “Access to affordable and clean electricity for the millions of Africans who today have none” is a fitting goal for the World Energy Council (WEC)’s energy planning in Africa. But their answer, the $50 billion USD Grand Inga hydropower scheme, is not the panacea project that the WEC would like it to be. Read more Update \| 13 March 2007 NGOs demand revision of unfavorable DRC mining contracts A coalition of NGOs launched an appeal to the Congolese government, the World Bank and other international partners to "renegotiate, revoke or cancel" disadvantageous mining contracts made during the war and under the transitional government, in order to ensure that the Congolese people derive a "fair share" from the exploitation of the country's natural resources. Read more Update \| 9 March 2007 IFIs in Africa News Briefing #15 Summaries and commentary on the latest news articles from between February 17 and March 2 relating to international financial institution (IFI) involvement in Africa Read more Update \| 7 March 2007 EIB and AfDB back feasibility study of uranium treatment in Zambia The use of public money by the European Investment Bank and the African Development Bank to extract uranium poses a serious cause for concern, not only because of threat of contamination of local water sources, but because of the precedent it would set. Read more Update \| 7 March 2007 Niger Delta instability delays West Africa Gas Pipeline Controversial World Bank-backed project faces further obstacles due to ongoing instability in Nigeria’s turbulent Niger Delta region. In recent months, unrest in the Delta has been marked by kidnappings of oil workers and attacks on oil installations. Read more Update \| 7 March 2007 Paul Wolfowitz to visit Democratic Republic of Congo Visit signals heightened World Bank interest in the country following the inauguration of a new government, as well as in the wake of controversy around the forest and mining sectors. Read more Update \| 6 March 2007 DRC government, donors, civil society meet to discuss the future of Congo's rainforests Civil society releases declaration enumerating key demands concerning forest sector management in the Democratic Republic of Congo. Read more Update \| 26 February 2007 Democratic Republic of Congo Country Update BIC and Environmental Defense release the latest DRC Country Update, which provides information about recent developments, decisions, and civil society activities related to the work of the International Financial Institution’s (IFIs) in the Democratic Republic of Congo. The French version is forthcoming. Read more Update \| 26 February 2007 African Development Bank, World Bank to collaborate on extractive industries At a two-day “experience-sharing meeting” on the extractive industries (EI) in Africa last week in Tunis, the banks agreed to intensify their collaboration on EI work and support for the implementation of the EITI by resource-rich countries in Africa. Read more Update \| 26 February 2007 EIB repeats concerns over Chinese lending in Africa At a recent press conference in Brussels, the head of the European Investment Bank (EIB) reiterated his apprehensions about increased competition from Chinese banks in Africa. As reported in the Financial Times, President Philippe Maystadt expressed his concerns that Chinese banks “apply lower ethical and environmental standards” to their investments in Africa, and that they are effectively undermining good governance and undercutting competitors. Read more Update \| 26 February 2007 IFIs in Africa News Briefing #14 Summaries and commentary on the latest news articles relating to international financial institution (IFI) involvement in Africa Read more Update \| 22 February 2007 Zambia attacked by 'vulture fund' A British court ruled that Donegal International, which paid less than $4m to buy off a Zambian debt valued at over $30m, is owed repayment from Zambia. The exact repayment total is undetermined, but estimated at about $20m – half the amount the country will receive in debt relief this year. Many are outraged at the ‘vulture fund’ for reversing the affects that debt relief should bring the impoverished nation. Read more Update \| 26 February 2007 Update: Extractive industries campaigner released from prison, but still unable to leave Angola Although Dr. Sarah Wykes, an anti-corruption campaigner at Global Witness, has been released from prison following her Feb 20 arrest on espionage charges, she has not yet been able to leave the oil-rich Cabina region, where she was detained. Read more Update \| 15 February 2007 Bujagali Dam fails to meet international standards A report released last week documents the failure of the proposed Bujagali Dam in Uganda to fully comply with the international best practices set by the World Commission on Dams (WCD) Read more Update \| 13 February 2007 Film puts World Bank and IMF on trial A new film by independent Malian director demands accountability from the IFIs for their impacts in Africa. Staged in a typical family courtyard in Mali, "Bamako" beautifully documents a people's trial of the World Bank and IMF. Read more Update \| 13 February 2007 World Bank's "model" project in Chad beset by persistent problems The controversial Chad-Cameroon pipeline is again in the news after an off-shore oil spill occurred near the town of Kribi in coastal Cameroon. Meanwhile in southern Chad, where ExxonMobil and its consortium partners extract nearly 200,000 barrels of “black gold” per day, the security situation and living conditions are deteriorating. Read more Update \| 9 February 2007 African Development Bank mobilizes $1.6 billion for infrastructure through African Union's New Partnership for Africa's Development (NEPAD) Civil society concerned about regional bank's emphasis on large-scale energy projects Read more Update \| 9 February 2007 Mining companies turn to UN and World Bank in face of Chinese threat An article in The Times described a secret high-level meeting of the heads of several Western mining companies and UN and World Bank officials concerning competition from Chinese investors in Africa’s mining sector Read more Update \| 8 February 2007 IFIs in Africa News Briefing #13 Summaries and commentary on the latest news articles relating to international financial institution (IFI) involvement in Africa Read more Update \| 2 February 2007 World Social Forum: Another world in sight, but still distant The World Social Forum was held in Africa for the first time earlier this month. For five days, more than 50,000 people gathered in Nairobi, Kenya, to discuss the most pressing issues affecting social, economic and environmental justice in the world today – to voice outrage, to celebrate progress, and to inspire each other. Read more Update \| 24 January 2007 Oil spill along Chad-Cameroon Pipeline The Center for Environment and Development (CED), a Cameroon-based organization that has been active in monitoring the impacts of the Chad-Cameroon oil pipeline project, has issued a press release on the incident. CED notes, among other things, a concern regarding the poor communication and long delay in alerting the public and local authorities about the spill. Read more Update \| 21 January 2007 Karibu to World Social Forum Nairobi 2007! BIC to host sessions on the African Development Bank and World Bank in Africa Read more Update \| 9 January 2007 African Development Bank prepares for next replenishment round Observers anticipate an emphasis on large infrastructure Read more Update \| 9 January 2007 World Bank study notes “complete lack of transparency” in DRC mining contracts In an op-ed about the Democratic Republic of Congo (DRC) in the Boston Globe, authors John le Carre and Jason Stearns criticized the unfavorable mining contracts signed between several international companies and Gecamines, the Congolese state-owned copper company, as a threat to the country’s prospects for lasting peace and development. Read more Update \| 10 January 2007 IFIs in Africa News Briefing #12 Summaries and commentary on the latest news articles relating to international financial institution (IFI) involvement in Africa. Read more Update \| 22 December 2006 IFC and EIB post new documents on Uganda dam Both the International Finance Corporation (IFC) and European Investment Bank (EIB) disclosed project documents for the controversial Bujagali hydroelectric dam this week; IFC board date set for April 2007 Read more Update \| 21 December 2006 European Investment Bank approves over $1 billion for Africa's energy sector The EIB's emphasis on large, fossil fuel-based infrastructure projects a major cause for concern. Read more Update \| 19 December 2006 IMF warns Chinese lenders to Africa A report published by the International Monetary Fund (IMF) urged China to exercise caution while investing in Africa. The IMF expressed concern that the ever-increasing volume of Chinese loans with loose conditions to African countries could end up producing a "new wave of Africa debt." Read more Update \| 19 December 2006 Government to evict Kenyan farmers from mineral-rich lands Tiomin mining company is set to resume preparations for titanium extraction in an African Development Bank (AfDB)-financed project. Read more Update \| 18 December 2006 Ghana withdraws from IMF’s poverty reduction facility Ghana’s Minister of Finance Kwadwo Baah-Wiredu announced this month that Ghana would not renew its Poverty Reduction Growth Facility (PRGF) concessional lending scheme with the International Monetary Fund (IMF). Read more Update \| 18 December 2006 World Bank commits $1 billion to Democratic Republic of Congo The Bank will offer $1 billion to newly-elected President Joseph Kabila in support of his five selected priority areas: health, energy, infrastructure, education and good governance. Read more Update \| 18 December 2006 World Bank seeks China’s cooperation in lending to Africa New World Bank Vice President for East Asia “confident that we'll be able to find a broad range of activities where we can work together.” Read more Update \| 8 December 2006 World Bank response to NGO concerns about Bujagali is short on detail Bank's delayed reply fails to address critical issues of public disclosure or consultation Read more Update \| 7 December 2006 EIB urges looser environmental and social standards for loans to Africa Competition from Chinese lenders prompts EIB to consider removing "excessive" conditions placed on loans Read more Update \| 6 December 2006 Civil society calls on DRC President to renegotiate disadvantageous mining contracts World Bank yet to disclose audits of Democratic Republic of Congo's state-owned copper mining company Read more Update \| 6 December 2006 Urgent concerns about Uganda dam go unanswered by World Bank An NGO letter to the World Bank details urgent concerns regarding the Bujagali hydropower project in Uganda, which is being fast-tracked for development early next year. Read more Update \| 15 December 2006 IFIs in Africa News Briefing #11 Summaries and commentary on the latest news articles relating to international financial institution (IFI) involvement in Africa. Read more Update \| 5 December 2006 Hart Schafer tapped as Acting VP for Africa President Wolfowitz fills position after Africa VP's resignation Read more Update \| 21 November 2006 IFIs in Africa News Briefing #9 Summaries and commentary on the latest news articles relating to international financial institution (IFI) involvement in Africa. Read more Update \| 21 November 2006 EU commits $127 million for Bujagali dam European Investment Bank to provide funds for controversial Uganda dam Read more Update \| 22 November 2006 World Bank implicated in controversial DR Congo mining contracts An internal memo warns that the Bank may be complicit in the non-transparent awarding of mining contracts that are unfavorable to the country Read more Update \| 17 November 2006 World Bank, African Development Bank, UN promote carbon credits for Africa Agencies encourage donor countries to channel more Clean Development Mechanism (CDM) projects to Africa under new "Nairobi Framework" Read more Update \| 17 November 2006 World Bank Africa Vice President resigns Vice President Gobind Nankani considered Wolfowitz's "latest casualty" Read more Update \| 8 November 2006 China-Africa conference concludes in Beijing The Sino-African summit wrapped up last weekend amid promises from China to double trade, aid and investment in Africa Read more Update \| 9 November 2006 World Bank suspends German firm over corruption This week the World Bank suspended its contracts to Lahmeyer International after being found guilty of bribing public officials in the multi-billion dollar Lesotho Highlands Water Project. Read more Update \| 3 November 2006 IFIs in Africa News Briefing #8 BIC's "IFIs in Africa News Briefings" provide summaries and commentary on the latest news articles relating to International Financial Institutions (IFI) involvement in Africa. Read more Update \| 20 October 2006 IFIs in Africa News Briefing #7 BIC's "IFIs in Africa News Briefings" provide summaries and commentary on the latest news articles relating to International Financial Institutions (IFI) involvement in Africa. Read more Update \| 7 September 2006 MIGA plans major involvement in DRC mining industry The head of the extractive industries unit for the Multilateral Investment Guarantee Agency (MIGA), the World Bank’s political risk insurance arm, has expressed an interest in scaling up its portfolio in the Democratic Republic of Congo’s mining industry from its present $20.8 million to $500 million within three years. Read more Update \| 11 October 2006 World Bank discloses comments on EIA for Lom Pangar hydroelectric dam In a written response to civil society organizations, the World Bank has agreed to disclose its comments on the environmental impact assessment (EIA) of the planned Lom Pangar hydroelectric project in eastern Cameroon. Read more Update \| 6 October 2006 IFIs in Africa News Briefing #6 BIC's "IFIs in Africa News Briefings" provide summaries and commentary on the latest news articles relating to International Financial Institutions (IFI) involvement in Africa. Read more Update \| 2 October 2006 IMF approves quota reform At its annual meetings in Singapore, the IMF Board of Governors reformed the voting shares of a few countries, but critics say they have not gone far enough Read more Update \| 29 September 2006 Ghana Country Update #6, September 2006 The Ghana Country Updates provide information about recent developments, decisions, and civil society activities related to activities of the International Financial Institution’s (IFIs) in Ghana. Read more Update \| 20 December 2006 EIB to help finance controversial gas pipeline The European Investment Bank (EIB) last week approved a €70 million investment (approximately $87 million) in the Chevron-led West Africa Gas Pipeline Company (WAPCo) to support the construction of the 681 km-long pipeline that will transport natural gas from the Niger Delta to Ghana’s industrial centers in Tema and Takoradi. Read more Update \| 15 September 2006 What’s at stake for Africa at the World Bank’s 2006 Annual Meetings in Singapore The upcoming annual meetings of the World Bank and International Monetary Fund in Singapore will have a direct bearing on the institution’s operations in sub-Saharan Africa. Topics particularly relevant to Africa include a one-year-on review of the Bank’s Africa Action Plan, the presentation of the Bank’s new Energy Investment Framework, and a discussion of the Bank’s Anti-Corruption and Governance Strategy. In addition, the governors of the IMF are expected to discuss proposed adjustments to the voting shares of member countries, with potential implications for Africa’s voice on the Fund’s Board of Directors. Read more Update \| 1 September 2006 Instability in Nigeria’s oil delta to delay supply of natural gas through the West Africa Gas Pipeline Nigeria’s Minister of State for Petroleum Resources admits that the ongoing crisis in the country’s turbulent Niger Delta Region may delay the supply of natural gas to Benin, Togo and Ghana through the West Africa Gas Pipeline project (WAGP). Read more Update \| 28 August 2006 Africa to lose voting shares at IMF? A proposed revision of voting shares at the International Monetary Fund could leave Africa with even less of a say in the institution's operations. The Fund's governors will consider increasing the votes of China, South Korea, Mexico and Turkey, at the organization’s Annual Meetings in September. African governors may veto the proposal if it does not include firm commitments to protect the voice of low-income countries. Als available in Spanish. Read more Update \| 27 July 2006 Wolfowitz concludes visit to Africa World Bank President Paul Wolfowitz recently concluded a whirlwind tour of Africa after visiting seven countries - Ethiopia, Tanzania, Chad, Benin, Sierra Leone, Nigeria and Liberia – in almost as many days. Read more Update \| 24 July 2006 World Bank announces final agreement with Chad on oil revenue management The Government of Chad and the World Bank signed a memorandum of understanding on July 14th regarding the use of the country's oil revenues. While the agreement has been heralded as a resolution to the protracted dispute between the two parties, some civil society observers remain skeptical that the government of Chad has any more will or capacity today to deliver on promises to use oil money for the poor than it did when the World Bank suspended lending to Chad in January of this year. The MOU, which will be in effect through 2007, leaves many questions unanswered and key details about oversight of spending and management of windfalls undefined. Read more Update \| 12 July 2006 Newmont's Ahafo gold mine begins production Read more Update \| 12 July 2006 Civil society calls for IFC Board to review Ahafo Gold Mine Project Read more Update \| 11 July 2006 New report from Global Witness details fraud, abuse and exploitation in Katanga's copper and cobalt mines in the Democratic Republic of Congo Read more Update \| 5 July 2006 International Rivers Network , Global Village Cameroon and BIC release a joint report on the Lom Pangar Dam and the energy sector in Cameroon Read more Update \| 14 June 2006 African Development Bank President Donald Kaberuka presents Bank's strategy for Africa’s development The AfDB President laid out the institution's priorities for development in Africa in an interview with AllAfrica.com, emphasizing the need to make investment climates more attractive to the private sector and focus on regional integration and infrastructure development Read more Update \| 12 June 2006 BIC and Environmental Defense release DR Congo trip report Read more Update \| 22 May 2006 African Development Bank concludes annual meeting in Ouagadougou Read more Update \| 18 May 2006 BIC releases Extractive Industries Review Update #7, May 2006 Read more Update \| 11 May 2006 Nigerian communities register complaint with the World Bank Inspection Panel over West Africa Gas Pipeline The claim filed by Nigerian residents of twelve communities in Lagos State to the World Bank Inspection Panel cites violations of World Bank policies on resettlement, environmental assessment and economic evaluation. If implemented as presently designed, the claimants argue, the project will do irreparable harm to the economic, social and environmental sustainability of their communities. Notice of Registration document , World Bank Inspection Panel, May 2, 2006 WB Inspection Panel website (Acrobat pdf 36 KB) Read more Update \| 11 May 2006 Newmont Mining Corporation discloses supplemental documents on its Ahafo gold mine in Ghana Following expressions of concern about ongoing problems at its Ahafo gold mine in Ghana, Newmont Mining Corporation recently made available new documents on the project's social and environmental impacts and mitigation measures. These supplemental documents, located on Newmont’s website, contain updated information on the company's resettlement action plan, measures to address the vulnerability of project-affected populations, the terms of reference for an external monitoring mechanism, and data on environmental risks. Supplemental documents on the Ahafo mines (Newmont’s website) Read more Update \| 4 May 2006 Cameroon to receive debt cancellation The World Bank, International Monetary Fund and the African Development Bank announced that over $2 billion of Cameroon's debt would be erased. Read more Update \| 3 May 2006 World Bank to resume lending to Chad after interim agreement reached with government On April 27th, the World Bank announced that it had reached an interim agreement with the Government of Chad to resume lending and unfreeze bank accounts containing the country's oil revenues. The accounts had been blocked since January of this year, when the Bank suspended lending to the country following the government's decision to rewrite the revenue management law and use oil money for security spending. World Bank press release on interim agreement Read more Update \| 26 April 2006 BIC welcomes Josh Klemm as new Africa Program Assistant Joshua became BIC’s Africa Program Assistant in April 2006 after spending a year and a half with the local Transparency International chapter in Freetown, Sierra Leone, the National Accountability Group. Read more Update \| 4 April 2006 BIC releases Extractive Industries Review Update #6, April 2006 Read more Update \| 1 April 2006 Civil society releases report on World Bank lending in DR Congo Read more Update \| 13 March 2006 Civil society calls on IFC to address outstanding social and environmental issues Following the approval of IFC financing for Newmont's Ahafo mine in Ghana, the Bank Information Center, Oxfam-America, FoodFirst Information Action Network, Earthworks, WACAM, and ABRANDH sent a letter to IFC repeating the call for urgent action to be taken on unresolved problems related to the social and environmental impacts of the mine. Read more Update \| 7 March 2006 BIC discusses Chad oil pipeline on NPR: Collapse of Bank's "model" project offers lessons and exposes risks to the poor The recent collapse of the World Bank’s “model” petroleum development project in Chad underscores the vulnerability of the poor as the primary bearers of risk and highlights the pitfalls of promoting extractive industries in countries lacking political stability, history of respect for human rights, or functioning mechanisms of public accountability. Read more Update \| 3 March 2006 NGOs urge World Bank to examine problems with implementation of mining projects in DR Congo NGOs call upon the World Bank to investigate mining contracts and problems with the Bank's reform project in DR Congo. Read more Update \| 3 March 2006 Heeding calls from NGOs, Bank releases CAO report on DRC mine Read more Update \| 31 January 2006 Wolfowitz's office urged to release internal report on controversial DRC mine Read more Update \| 30 January 2006 World Bank urged to postpone loan for controversial gold mine in Ghana A group of Ghanaian and international organizations is urging the World Bank to postpone funding for a new gold mining project in Ghana until the Bank addresses the project's human rights and environmental problems. Read more Update \| 6 January 2006 Wolfowitz suspends $124m in World Bank loans to Chad In what some have described as Wolfowitz's first real test in his new position, the President announced the suspension of all World Bank loans to Chad on Friday. Read more Update \| 8 December 2005 Issues and concerns surround IFC investment in Ahafo gold mine in Ghana Read more Update \| 2 December 2005 BIC seeks Africa Program Assistant BIC’s Africa regional work focuses on the operations and impacts of the World Bank Group, the African Development Bank and the International Monetary Fund. BIC has strategic partnerships with non-governmental organizations throughout the region. A key component of the program is to strengthen our regular information services, communication and outreach to civil society actors monitoring IFI operations and promoting environmental, social and economic justice in Africa. Read more Update \| 21 November 2005 Chad's Oil Revenue Management Experiment in Crisis Bank Information Center, Oxfam America, Intermon (Oxfam Spain), Environmental Defense and Amis de la Terre (Friends of the Earth-France) have issued a statement concerning the current crisis in Chad over the government's proposal to fundamentally alter the petroleum revenue management law. The fate of the Chad-Cameroon oil pipeline project, a flagship investment for the Bank in the extractive industries and in Africa, has implications not only for the people of Chad, but for the Bank's future involvement in the sector. Read more Update \| 27 October 2005 Chad proposes revision of oil revenue management system The government of Chad has announced its intention to amend the Petroleum Revenue Management Law—the much-vaunted centerpiece of the World Bank’s “model” Chad-Cameroon oil pipeline project—in order to increase revenues available for discretionary spending today. Read more Update \| 12 September 2005 World Bank releases Africa Action Plan The World Bank has drafted an "Action Plan" for Africa, laying out key objectives and commitments for its operations in the region in the coming years. Among other things, the plan emphasizes shifting IDA resources toward unresitricted budget support, dramatically increasing financing for the private sector and infrastructure, through collaboration between IDA and IFC, and expanding regional trade initiatives. The document went to the Board Committee on Development Effectiveness (CODE) in early September and will be discussed by the Development Committee at the Annual Meetings in late September. Read more Update \| 12 September 2005 IFC considers financing for Newmont gold mine in Ghana On August 29, the International Finance Corporation indicated its intent to provide $125 million in loans to Newmont Gold Corporation, the largest gold producer in the world, for its development of two mining sites in the Brong Ahafo region of Ghana. Prior to the public announcement about proposed IFC support for the mining activities, local community members and civil society organizations in Ghana had expressed concern about Newmont's operations, community relations and the lasting environmental impacts of the open-pit gold mine. Read more Country Update \| 8 September 2005 Sierra Leone Country Update #3, September 2005 Includes information about recent developments, decisions, civil society concerns and recommendations related to Multilateral Development Bank (MDB) involvement in Sierra Leone. Read more Country Update \| 2 September 2005 Ghana Country Update #6, September 2005 Includes information about recent developments, decisions, civil society concerns and recommendations related to Multilateral Development Bank (MDB) involvement in Ghana. Read more Update \| 12 August 2005 World Bank Group responds to critical questions about EIR implementation The director of the Oil, Mining, Gas and Chemicals Department responds to a civil society letter noting lack of progress on implementing Extractive Industries Review recommendations. Read the full response and highlights. Read more Update \| 10 August 2005 Environmental Defense releases report on World Bank lending in DR Congo Read more Update \| 3 August 2005 World Bank Country Directors in Sub-Saharan Africa Browse a list of current country directors (includes emails) for borrowing member countries of the World Bank in sub-Saharan Africa. Read more Update \| 27 July 2005 Rwandan Finance Minister to be next president of African Development Bank Mr. Donald Kaberuka was favored by the US and other non-African member countries, although he apparently gained significant African support in the two months since the stalemated elections at the AfDB's Annual Meetings. Read more Update \| 14 July 2005 Track extractive industry projects in your region Read more Update \| 6 July 2005 Debt and climate change dominate G8 Summit Learn civil society perspectives on climate change and the G8 debt cancellation proposal, and find out how to act. Read more Update \| 24 June 2005 Track World Bank country strategy processes in Africa Read more Update \| 15 June 2005 Debt campaigners say G7 "debt relief" not enough African Jubilee South demands restitution, an end to debt and conditionalities Read more Country Update \| 3 May 2005 Nigeria Country Update #1, April 2005 Includes information about recent developments, decisions, civil society concerns and recommendations related to Multilateral Development Bank (MDB) involvement in Nigeria. Read more Update \| 20 April 2005 Nigerian CSOs criticize IMF Article IV consultation process Over 30 civil society organizations issue a statement highlighting the shortcomings of the draft report. Read more Update \| 20 April 2005 Nigerian NGO calls for extension of comment period on CAS document The African Network for Environmental and Economic Justice (ANEEJ) has criticized the World Bank for the insufficient time frame provided for draft Country Assistance Strategy comments. They are calling for a delay in the process to allow civil society a meaningful opportunity for input. Read more Update \| 23 March 2005 African Civil Society representatives deem HIPC fails to achieve debt sustainability of Africa’s poorest countries Read more Update \| 15 March 2005 US proposal for financing debt relief Read more Country Update \| 14 March 2005 BIC releases second Sierra Leone country update Read more Update \| 12 March 2005 Next President of African Development Bank to be elected at AfDB Annual Meetings Elections for the presidency of the African Development Bank will be held at the Annual Meeting of the Boards of Governors scheduled to take place on May 18-19 in Abuja, Nigeria. Seven candidates are running, including representatives from Ghana, Rwanda, Cameroon, Egypt, Zimbabwe, Nigeria and Gabon. Each candidate is supported by one or more regional member countries. Read more Update \| 12 March 2005 Debate heats up over agricultural trade reforms Pressure on the US mounts during discussions at a recent meeting of Trade Ministers in Nairobi, Kenya, and following the ruling of the WTO appeals mechanism finding the US in violation of prohibitions against cotton subsidies. Read more Update \| 11 March 2005 Blair Commission Report on Africa released; a few unexpected recommendations for IFIs The Africa Commission formed by Tony Blair, British Prime Minister and Chair of the G8 for this year, has issued its nearly 500 page report, with recommendations regarding debt, aid flows, corruption and trade garnering the most attention. Several less well-known recommendations in the report concern the undemocratic structure and governance of the IFIs. Read more Update \| 11 March 2005 World Bank poised to reengage in Sudan The World Bank is preparing to reestablish relations with Sudan and commence lending within the year. The WB reopened an office in Sudan in January and is expected to contribute to the massive $7 billion reconstruction program outlined for the "post-conflict" country. Read more Update \| 28 February 2005 BIC Releases Ghana Update #5, February 2005 Read more Update \| 15 February 2005 "Chad's Oil: Miracle or Mirage?" BIC and CRS release report Feb 17th Read more Update \| 6 February 2005 Debt disappointment in wake of G7 meeting; outcome unclear The February G7 meeting produced talk of providing “as much as 100% multilateral debt relief,” but no consensus was reached on concrete actions moving forward. Read more Update \| 10 December 2004 Nigerian NGO calls for delay of CAS consultations The African Network for Environmental and Economic Justice (ANEEJ) has criticized the late notice and lack of information available in advance of a consultation on the World Bank's Country Assistance Strategy for Nigeria, to be held on Monday, December 13. They are calling for a delay in the process to allow civil society a meaningful opportunity to input into the formulation of the Bank's lending strategy for the country. Read more Update \| 4 December 2004 AfDB held second African regional workshop on harmonization in Tanzania Read more Update \| 4 December 2004 World Bank approves guarantees for the West African Gas Pipeline despite outstanding concerns Read more Update \| 4 December 2004 African civil society plans protest in Zambia to demand debt cancellation Read more Update \| 4 December 2004 World Bank Approves Sixth Structural Adjustment Loan for Chad On November 30, 2004, the World Bank’s Board of Executive Directors approved a $25 million Institutional Reform Support Credit for Chad. Read more Update \| 4 December 2004 IAG publishes 8th Monitoring Report on the Chad-Cameroon pipeline project Read more Country Update \| 1 December 2004 BIC releases first Sierra Leone Country Update Read more Update \| 30 November 2004 New BIC report calls for revenue transparency in oil, gas, and mining projects Read more Update \| 22 November 2004 World Bank Group poised to approve guarantees for West Africa Gas Pipeline; civil society calls for delay Read more Country Update \| 16 November 2004 BIC releases Ghana Country Update #4, November 2004 Read more Update \| 13 October 2004 Chadian activist wins 2004 RFK Human Rights Award for work on Chad-Cameroon pipeline Read more Update \| 11 September 2004 Updates on WBG activities in the DRC Read more Update \| 11 September 2004 EIR can learn from Chad-Cameroon lessons Read more Country Update \| 30 August 2004 BIC releases Ghana Country Update #3 August 2004 Read more Country Update \| 29 July 2004 BIC releases Chad Country Update #3 July 2004 Read more Update \| 27 July 2004 Findings on environmental and social impacts of pipeline project Read more Country Update \| 22 June 2004 BIC Releases Ghana Country Update #2 June 2004 Read more Country Update \| 9 June 2004 BIC releases Chad Country Update #2 May 2004 Read more Update \| 9 June 2004 AIMES supports EIR, calls for justice for Africa Read more Update \| 7 June 2004 At G8 Summit, civil society demands follow-through on commitments Representatives of prominent African NGOs and trade unions have called upon the G8 to take action on their unfulfilled promises to address the debt, trade and HIV/AIDS issues. Transparency network calls for more disclosure. Read more Country Update \| 26 April 2004 BIC releases Ghana Country Update #1 April 2004 Read more Update \| 13 April 2004 AIMES issues statement on the EIR Read more Country Update \| 13 April 2004 BIC releases Chad Country Update March 2004 Read more Update \| 8 March 2004 AfDB releases new Information Disclosure Policy Read more Update \| 25 February 2004 Civil Society groups in Sierra Leone voice concerns about proposed MIGA project Local NGOs have issued press statements and addressed letters to MIGA's Executive Directors and their own government raising concerns about the Koidu Kimberlite Diamond Mine in Sierra Leone, and calling for a delay of the project's approval. Read more Update \| 14 January 2004 Koidu Holdings Limited denies any wrongdoing or violation of EIA policy The developer of a diamond mine in Sierra Leone for which MIGA is considering a guarantee, defends itself against concerns raised about its operations and questions the legitimacy of local NGOs. Read more Update \| 12 January 2004 Comment on AfDB's proposed accountability mechanism through January 31 The African Development Bank is accepting public comments on its proposed inspection function through January 31. Read more Update \| 11 January 2004 West Africa Gas Pipeline enters the World Bank's official project pipeline The World Bank released initial project documents for the West African Gas Pipeline. Read more Update \| 17 December 2003 CAO releases assessment report of Zambia Konkola Copper Mine complaint Read more Update \| 10 October 2003 Chadians call for National Day of Mourning as Chad-Cameroon Pipeline is inaugurated Groups fear imminent oil revenues will strengthen the current regime and exacerbate current insecurity, lack of resources, and human rights violations. Read more Update \| 13 August 2003 AES pulls out of Bujagali dam project Read more Print this page Email this page		Search Regions Africa Asia Europe/Central Asia Latin America Middle East and North Africa See also Democratic Republic of Congo African Development Bank European Investment Bank in Africa International Finance Corporation International Monetary Fund Multilateral Investment Guarantee Agency World Bank (IBRD & IDA) Stay Informed! Sign up for our e-newsletters. SignUp

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