Why is it
International financial institutions (IFI) like the World Bank and the International Finance Corporation can be constructive forces helping shape economic development in ways that advance social goals and environmental needs.
To date their records are mixed, at best. While dramatically improved compared to old performance, their policies still send perverse signals into the market, encouraging, for example, development of fossil fuel resources instead of renewable energy.
What needs to
Policies and activities of these institutions must conform to social and environmental standards.
Local groups should conduct on-the-ground monitoring of IFI projects and their impacts.
MDB reform advocates in key donor countries should educate decision-makers about the perverse impacts of some IFI activities.
IMF and WB should support renewable energy investments instead of fossil fuel use.
Who is working on it?
Bank Information Center
Erklärung von Bern
Friends of the Earth