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Lebanese CSOs demand participation in World Bank's Country Partnership Strategy talks

In an effort to influence the outcome of an August 31st World Bank Board of Executive Directors' meeting where the Board planned to discuss Lebanon's new Country Partnership Strategy (CPS), a group of Lebanese CSOs submitted a letter to the Board expressing their concerns with the the CPS and the process through which it was prepared.

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The World Bank’s $6 billion man on climate change

The World Bank recently created the position of Special Envoy for Climate Change, a position charged with overseeing massive amounts of money put toward mitigation efforts. Andrew Steer is the first person appointed to this position.

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Quality of renewed consultations over Moscow motorway already in doubt

Just days after the welcomed but belated announcement from Russian President Medvedev that tree felling in Khimki Forest must be halted while renewed public consultations take place over the routing of the Moscow – St. Petersburg motorway, the process is already in danger of becoming a rubber-stamping exercise. Bankwatch and the Movement to Defend Khimki Forest have asked both the European Investment Bank and European Bank for Recontruction and to ensure a full and fair consultation process.While it had been announced that a hearing will take place on 16 September, there is no word on how any wider consultation process will be organised and whether any environmental impact assessment documents will be made available on which to base inputs, thus creating a severe risk that the exercise will be mainly cosmetic. Meanwhile the Khimki administration is using deceptive methods to gather signatures in favour of the currently proposed route. Workers of municipal enterprises have been involved on a compulsory basis in rallies in support of the current option of the motorway. Moreover teams of pro-administration propagandists are being deployed to various settlements to spread rumours among locals that any alternative option would lead to massive demolition of residential houses – even in places far from any possible placement of the motorway.The international financial institutions often claim that engaging in projects results in better outcomes than if they were not involved. Now is a key moment to see whether they can indeed affect real changes in this project.

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U.S. releases comments on IFC policies

The United States Department of the Treasury has posted its official comments on its priorities for the IFC's ongoing review of its Policy on Social and Environmental Sustainability, including the Performance Standards, and Disclosure Policy.

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NGOs: World Bank palm oil strategy is reckless

A coalition of stakeholders has demanded that the World Bank continue its freeze on palm oil investments until it has implemented an acceptable strategy for investment in the sector.

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EBRD warned not to dirty hands with Armenian bank

Outside European Bank for Reconstruction and Development offices in Yerevan, Armenia yesterday, local environmental group Teghut Defence rallied and requested the bank not to go ahead with a 10 million dollar loan to VTB Bank Armenia. While the loan in question is designated for small and medium enterprises, VTB Bank is elsewhere involved in financing the notorious Teghut copper mining project and the Teghut Defence Group believes that any loan from the EBRD will effectively support VTB’s poor corporate standards.The case illustrates one of the problems with EBRD lending to financial institutions. While provisions of the bank’s Environmental and Social Policy are applicable to the specific investment in a particular financial intermediary – and these are essentially national legal standards - the same policy provisions do not extend further across the intermediary’s portfolio, creating a situation of policy inconsistency and hypocrisy. So for example a credit to a bank for financing energy efficiency measures in local businesses has to adhere to the EBRD’s lending standards in that credit line, but is free to invest in other climate-damaging or other environmentally problematic projects using non-EBRD money. If the EBRD truly wants to promote sustainable development across its activities, it needs to apply more stringent criteria when selecting potential financial institution recipients and apply its standards consistently across its intermediaries’ whole portfolios.

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India largest recipient of World Bank loans in 2009-10

In fiscal years 2009 and 2010, India received the highest amount of money in loans among any country from both the IBRD and IDA lending arms, committing 15.1% and 17.7% of their respective budgets to the South Asian nation.

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Country by country reporting hailed by World Bank, but can it practice what it preaches?

On the International Accounting Standards Board’s (IASB’s) website, many CSOs including Eurodad have contributed to the IASB Discussion Paper on extractive activities, arguing in favor of a comprehensive country by country reporting standard for the extractive industries, a standard currently being reviewed. There are also contributions from other stakeholders that are openly opposed to such a standard.Interestingly, the World Bank also made a very assertive contribution, which strongly supports a country by country reporting standard in the extractive sector.

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World Bank palm oil strategy is reckless, say NGOs

Business Ghana, 30 August

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World Bank trying to "subvert" UN fix for emission offsets, lobby says

Three environmental groups called on the World Bank to stop obstructing the overhaul of the United Nations program for awarding emission credits tied to hydrofluorocarbons. They claim that analytical and factual errors in a World Bank report would lead to a derailing of the Clean Development Mechanism.

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