The World Bank and Other Financial Institutions
“Poverty alleviation,” “sustainability,” “prosperity” and "development" are key words in the public relations materials of the World Bank, its private arm, the International Financial Corporation (IFC), and other development finance agencies. In reality, the policies, programmes and projects promoted by these institutions have time and again caused more poverty, violence and forest destruction.
The false idea that industrial plantations are a solution to the climate crisis is a golden opportunity for investment funds like Arbaro, which access scarce climate funding for expanding destructive monocultures.
WRM spoke with close allies from Brazil, Gabon, India, Mexico and Mozambique, to hear from them and learn about their understandings of development.
In June 2019, a report from the AfDB and WWF Kenya made a call to development-funding agencies, mainly from Europe, and the World Bank, to provide aid money to a new Fund for financing 100,000 hectares of (new) industrial tree plantations, to support the potential development of 500,000 hectares, in Eastern and Southern Africa.
The creation of the Maya Biosphere Reserve has been legitimizing a destructive model: infrastructure and energy projects, hand-in-hand with Protected Areas “without people.” While conservation NGOs fatten their portfolios, peasant and indigenous communities are displaced, or conditioned to depend on NGOs and the market.