Corporate Power and Influence in the World Bank
Source: Focus on the Global South
Every year, the World Bank (Bank) channels US$ 18-20 billion to developing countries in the form of loans and grants with the ostensible aim of reducing poverty and promoting economic growth. The Bank always acts in tandem with its sibling agency, the International Monetary Fund (Fund), even in countries that no longer borrow from the Fund. Not all Bank financing and support goes to governments. A significant amount goes directly to the private sector, especially large corporations, in the form of loans, technical assistance and mitigation of investment risks.
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