World Bank Degradation
THE WORLD BANK IN JUNE approved an infrastructure project in Mexico that environmental organizations say marks a watershed in weakening the Bank's social and environmental standards.
The $108 million investment loan will finance a series of infrastructure projects in the Mexican state of Guanajuato.
What was novel about the loan is that the Bank has agreed to set aside its own environmental and social safeguard policies and to instead rely on Mexican laws and procedures, many of which do not meet the Bank's existing standards.
The project is the first major pilot of a new middle-income country strategy that the World Bank is currently preparing. The …
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Publication information:
Article title: World Bank Degradation.
Contributors: Not available.
Magazine title: Multinational Monitor.
Volume: 25.
Issue: 5-6
Publication date: May-June 2004.
Page number: 4.
© 1999 Essential Information, Inc.
COPYRIGHT 2004 Gale Group.
This material is protected by copyright and, with the exception of fair use, may not be further copied, distributed or transmitted in any form or by any means.
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