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.
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The government of Lao PDR has decided to establish the country as “the battery of Asia” by developing major hydropower dams along the Mekong River. The recent collapse of the Xe Pian -Xe Namnoy dam, however, accentuated once again the many risks of such projects.