Outsourcing development
Outsourcing development: Lifting the veil on the World Bank Group’s lending through financial intermediaries – The investigation tackled only a small portion of the IFC’s extensive financial-sector portfolio. Yet the results were shocking. The IFC is funneling billions of dollars into some of most notorious companies and projects in the world. The problem is systemic, and not limited to just a few cases.
In many instances, these investments have done more than just fail to help the poor. They have actually caused great harm to people and the environment. According to our investigation, IFC intermediaries have financed companies that have forcibly evicted and impoverished tens of thousands of people. They have contributed to climate change, ravaged forests, polluted the oceans and rivers, and killed endangered species. Activists who have dared to resist them have been jailed, beaten and even murdered.
[Read article and download report from IDI site]
Reading Development 