An internal investigation released last night finds that World Bank Group staff kept quiet about a plantation company’s role in a violent land conflict in Honduras, when proposing loans to one of Central America’s top ten banks which funded it.
Oxfam's Nicolas Mombrial said: “The IMF and World Bank have admitted the dangers of skyrocketing inequality, but they’re not showing any concrete signs of dealing with the problem.
World Bank Group President Jim Yong Kim today announ
Campaigners are calling for a fundamental overhaul of World Bank lending to financial markets actors, following the publication of an Ombudsman audit.
The past ten years have seen a surge in a new type of development lending, in which development finance institutions (DFIs) provide funding through financial intermediaries (FIs) rather tha