International Financial Institutions

by Agence France-Presse, 24 Dec 2021 Washington – The International Monetary Fund (IMF) said it had approved the fifth and final round of debt relief under a program meant to help the world’s poorest nations weather the Covid-19 pandemic.

by Louise Maureen Simeon – The Philippine Star, 18 Sep 2021 MANILA, Philippines — The World Bank will cease the publication of its flagship Doing Business report, which was previously questioned by the Philippines, following allegations of irregularities.

The pandemic has hit the poor & other vulnerable groups the hardest. We estimate an extra 162 million people in Asia & the Pacific now live beneath the poverty line. We remain focused on helping the region address both poverty & inequality. More ? — Asian Development Bank (@ADB_HQ) May 13, 2021

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by Gabriel Pabico Lalu, Philippine Daily Inquirer, 11 Sep 2020 MANILA, Philippines — A pro-environment group has called on the Asian Development Bank (ADB) to stop funding coal energy-based projects ahead of a virtual meeting hosted by the country, claiming that it is a primary driver for pollution in Asia.

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By Cai Ordinario, Business Mirror, Nov 5, 2018 THE World Bank has defended its methodology, amid complaints filed by the Philippine government that the country’s Ease of Doing Business ranking did not reflect the true state of the business environment in the country.

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http://www.businesstimes.com.sg/government-economy/world-bank-indirectly-backs-harmful-southeast-asian-projects-report [WASHINGTON] World Bank investments in commercial financial institutions are indirectly allowing land-grabs, evictions and pollution in Southeast Asia, a watchdog group charged in a report Friday. By investing in banks and other so-called financial intermediaries, World Bank funds can increase poverty, social strife and promote projects which hasten climate change, according to a report…

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ITUC calls on World Bank to implement key review panel recommendations 24 June 2013: The International Trade Union Confederation has called on the World Bank to adopt and implement key recommendations made by the independent Doing Business Report Review Panel, headed by South Africa’s Minister of Planning Trevor Manuel.

WASHINGTON – Global warming, a new offensive against poverty — the World Bank has overhauled its agenda to prove its relevance in the face of competition from rich emerging nations, notably China.

The Asian Development Bank (ADB) has imposed sanctions against 42 companies and 38 people found to have engaged in corrupt practices while implementing ADB-financed projects last year.

Global Economic Prospects—January 2013: Assuring growth over the medium term Press Releases WB urges developing countries to safeguard economic growth, as road ahead remains bumpy January 15, 2013 – Four years after the onset of the global financial crisis, the worst appears to be over. However, the global economy remains fragile, as high-income countries continue…

MANILA – (UPDATE2- 5:17 p.m.) For the second year, the Philippines barely improved in its performance as a business-friendly location, according to an annual World Bank survey. It actually slipped two notches in the 2013 Ease of Doing Business report, but because two countries were added to the list, the Philippines remained as is.

The World Bank on Wednesday said it has committed a multibillion-dollar loan assistance to the Philippines over the next three years to finance priority projects under the Philippine Development Plan for 2011 to 2016.

THE Philippines and Asian Development Bank (ADB) have agreed on a multibillion-dollar loan assistance program over a six-year period that would finance governance reforms and other measures needed to drive broad-based growth and poverty reduction efforts.

TWO multilateral institutions on Wednesday said they would accelerate their loan assistance to the Philippines for the next three years. “We are almost coming to an end in our discussion with the government on the medium term strategic direction of the ADB program and the tentative pipeline of our assistance from 2012 to 2014,” Neeraj…

MANILA, Philippines – The International Finance Corp. (IFC) has implemented a new transparency process prior to investing in projects, making it the first development finance institution to require a systematic corporate-governance analysis of every investment transaction as part of its due diligence process.

WASHINGTON – French Finance Minister Christine Lagarde appeared poised to become the head of the International Monetary Fund this week despite a strong challenge to Europe’s traditional hold on the job.

MANILA, Philippines –  The International Finance Corp. (IFC), a member of the World Bank Group, said its $75-million loan to Energy Development Corp. (EDC) will help lower power rates in the country.