• Almost 60 per cent of the Bank’s fast track Covid-19 Facility (US$ 8 billion) is being allocated through its private sector arm, the International Finance Corporation (IFC)
• Publicly available information indicates that as of June 2020, 68 per cent of IFC Covid-19 projects targeted financial institutions
• It also shows that 50 per cent of IFC-supported companies are either majority-owned by multinational companies or are themselves international conglomerates

The Covid-19 pandemic has triggered health, economic and social crises of unprecedented proportions that have the potential to seriously undermine the (already slow) progress made by developing countries towards achieving the Sustainable Development Goals.

A Eurodad-led review reveals insufficient and inadequate multilateral response to the Covid-19 pandemic on the part of the IMF, locking a large number of countries into a decade-long crisis of debt and austerity. 

Read the report in English, Spanish, Portuguese and French.

More than 500 civil society organisations are calling on the International Monetary Fund (IMF) to immediately stop promoting austerity around the world, and instead advocate policies that advance gender justice, reduce inequality, and decisively put people and planet first. 

#Covid-19 #UN #FinCEN #Tax #DebtSustainability #OECD #DAC #UNFCCC #Unga

Eurodad joins more than 350 civil society organisations from across the world in signing an open letter to Heads of State Meeting at the United Nations for the 75th UNGA.

In response to the public consultation on the European Investment Bank Climate Bank Roadmap, this paper outlines what the Roadmap should do to fulfil the commitment to international climate finance.

#Covid-19 #IMF #Debt #SpringMeetings #G20 #WHO #ODA #JobVacancy

The Bretton Woods Institutions were built on the ruins of an old world-order, at the end of World War II, and the dawn of a new world order, marked by the birth of many new nation-states and the onset of the cold-war. 

This week, the UN Independent Expert on Foreign Debt and Human Rights, Juan Pablo Bohoslavsky, released a report on the role of International Financial Institutions (IFIs) in imposing economic reforms that violate human rights. In particular, the report highlights how widespread promotion of austerity measures has had an adverse effect on human rights impacts in a number of countries. The document is due to be presented to the UN General Assembly in October,