Page 2, 14th October 1994

14th October 1994
Page 2
Page 2, 14th October 1994 — World Bank charged with going back on development promises

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Locations: Washington, Madrid


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World Bank charged with going back on development promises


Jo Marie Griesgraber, director of the Rethinking Bretton Woods project for the Centre of Concern, a Jesuit-funded ecumenical think tank on social justice issues, said: "they are 'Ong overdue for a major overhaul involving a thorough critique accompanied by fresh proposals and political will to implement them."

Lori Udall, of the International Rivers' Network, said the World Bank did not live up to its own policies.

She cited villagers who live near a proposed Bank-funded hydro-electric plant in Nepal and said that they have been trying for two years, without success, to get information about the project.

"World Bank and IMF officials tend to treat the campaign to reform the bank as a public relations problem", said Ms Udall.

And Ms Alexander summed up the campaigners' verdict on .the Madrid meetings as "an amazing show of timidity". Madrid meetings of the World Bank and International Monetary Fund (IMF) represented a "missed opportunity" for much-needed reforms, according to Catholic social justice campaigners this week.

Nancy Alexander of the ecumenical Bread for the World Institute, speaking at a Washington press briefing after her return from Madrid, said she found "very, very little political will behind the World Bank's stated goal of sustainable development" The World Bank and IMF were both founded in Bretton Woods, New Hampshire to assist European recovery after World War II.

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