Both ENDS
Before the end of this year, the World Bank will vote on whether to introduce a new lending instrument called "Programme for Results" (abbreviated as P4R), which aims to better meet the needs of developing countries while increasing the World Bank's reach by bringing funds from public and private donors together in sectoral programmes. NGOs from around the world have expressed concern about P4R, as has the business community and various governments. These parties are concerned that a large number of standards, which may have significant adverse effects on humans and the environment, will be released. A number of organisations have therefore voiced their concerns about P4R in a letter to the World Bank.
On 27 October, RTL Nieuws reported that the Steungroep Nicaragua considers the millions of euros that the Dutch development bank FMO is investing in Nicaragua irresponsible. When asked, FMO stated that 'it had to continue to support its entrepreneurs in difficult times'. Both ENDS believes that the choice to continue to invest in Nicaragua brings substantial risks, which FMO does not take sufficiently into account when deciding on financing. Previous FMO investments have caused harm to people and the environment and, in some cases, even led to violence – with, as its lowest point, the murder of Berta Cáceres in Honduras in 2016.
A highly critical report on the Bujagali Dam was recently released by the World Bank Inspection Panel - the independent investigation body of the World Bank. The controversial Bujagali Dam, a US$860 million hydropower dam under construction in Uganda, is co-financed by the World Bank and the African Development Bank. Unfortunately the report of the Inspection Panel has done little to change the commitment of the World Bank in funding the dam. Nor will it implement any fundamental changes in response to the indicated problems.
