The World Bank and its partners need to do a far better job of considering the environmental effects of projects they finance in poor countries, its internal review group concludes in a new report.
The review, released on Tuesday, examined some of the $400 billion in investments in nearly 7,000 projects from 1990 to 2007. It found that recent commitments to environmental sustainability by the bank and sister institutions, including the International Finance Corporation, were often not matched by changes within the lenders’ bureaucracies or on the ground where dollars were turned into dams, pipelines, palm plantations and the like.
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