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2 May 2017

Inclusive Development International, Bank Information Center, Tarkapaw Youth Group, Urgewald, 11.11.11, Accountability Counsel, and Ulu Foundation

Full report - "Reckless Development: The IFC's Dodgy Deals in Southeast Asia"

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"Out of control: The World Bank's reckless private sector investments in Southeast Asia exposed", March 2017

Dozens of harmful and high-risk projects in Southeast Asia have received hidden funding from the World Bank Group, an ongoing investigation by Inclusive Development International has revealed... 

The IFC’s financial-sector clients have funded some of the region’s most destructive projects, contravening the Performance Standards, the institution’s social and environmental guidelines. These projects include mega-hydropower dams in Vietnam and Cambodia, dirty coal-fired power plants and mines in the Philippines, Vietnam and Myanmar, and massive agro-industrial land grabs in Cambodia and Laos...

“Once again we have found that outsourcing the World Bank Group’s development mandate to private financial institutions is a recipe for disaster,” said David Pred, Managing Director of Inclusive Development International...