1 Tahrcountry Musings: World Bank criticized for environmental goofs

Thursday, July 24, 2008

World Bank criticized for environmental goofs

Environmental campaigners had always criticized the way World Bank doled out aid to developing countries. They have been consistently arguing that it has led to deforestation in the tropics. Here is proof that they were right in voicing their concern. World banks bank’s Independent Evaluation Group has criticized the bank for failures to grasp fully the environmental impacts of its programmes in poor countries. The 181-page report is a severe indictment. The group examined some of the $400 billion in investments spanning 7,000 projects from 1990 to 2007. The report says when dollars were turned into dams, pipelines, and palm plantations it led to deforestation in the tropics and environmental sustainability took a back seat. Environmentalists are hoping that this report will put some sense in the thinking of the higher ups in the world Bank

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