Journalists report World Bank subsidiary (IFC) may hurt the poor
The International Finance Corporation is a World Bank subsidiary. The World Bank calls it “the largest global development institution focused exclusively on the private sector in developing countries.” Its motto is, “We work with the private sector in developing countries to help create opportunity for all.” After a nine-month investigation, journalists Matt Kennard and Claire Provost, claim in a new Mother Jones report “Humanitarian Raid,” that the IFC may do more harm than good to the poor. We’ll ask Provost and Kennard why they believe the IFC is more likely, as they write, “helping the rich get richer.” Support for their reporting came from a grant through the Pulitzer Center on Crisis Reporting.
PHOTO: Photo for the Mother Jones article ‘Humanitarian Raid: The World Bank is supposed to help the poor. So why do so many of its investments underwrite oligarchs?’, by Claire Provost and Matt Kennard (Courtesy of Mother Jones)