Posts in development
- This report aims to provide a picture of the public finance flowing to energy infrastructure in Africa from fiscal years 2014 through 2016. It covers development finance institutions including multilateral development banks, as well as the national development banks and export credit agencies of the countries providing the most public finance to energy in Africa.
- Yesterday, UN Secretary-General Ban Ki-moon stressed the importance of making energy available to the poor as a foundation for combating poverty as world leaders gathered in New York this week at the Millennium Development Goal Summit. At a high-level event yesterday, the Secretary General said that it is lack of political will that is keeping...
Continue reading 'Universal energy access stressed at UN'.
- Nigeria “wasted” 30 years of oil income, the head of the International Monetary Fund (IMF) Dominique Strauss-Kahn said yesterday as he warned the country against the dangers of neglecting the non-oil sectors of its economy. “Nigeria has had 40 years of oil but for the first 30 years it wasted the proceeds from that oil,”...
Continue reading 'IMF: Nigeria ‘Wasted’ 30 Years of Oil Income'.
- The US House of Representatives missed an important opportunity to end oil aid in a bill [Acrobat pdf] that will “re-authorize” the Overseas Private Investment Corporation (OPIC) – one of two agencies in the US government that uses taxpayer dollars to provide financing, insurance and guarantees to US businesses wanting to expand their operations in...
Continue reading 'US House “Discourages” International Oil Subsidies, But Falls Short of Ending Oil Aid'.
- Representatives Maxine Waters (Democrat from California) and Spencer Bachus (Republican from Alabama) have introduced the 2007 Jubilee Act for Responsible Lending and Expanded Debt Cancellation (HR 2634) in the United States House of Representatives. Oil Change International has been working with Jubilee USA on the connection between oil dependence and the debt trap, and the...
Continue reading 'Jubilee Act Introduced'.
- After two years as President at the World Bank, Paul Wolfowitz, architect of the Iraq war, tendered his resignation on Thursday evening. “I have concluded that it is in the best interests of those whom this institution serves for that mission to be carried forward under new leadership,” writes Wolfowitz in a statement posted on...
Continue reading 'World Bank President Resigns'.
- British Member of Parliament, Michael Meacher, has introduced an “early day motion” that calls on the British aid agency, the Department for International Development, to stop subsidizing oil companies through development agencies like the World Bank. Other Members of Parliament are invited to endorse the motion, which will stay open until November. A similar motion...
Continue reading 'British MPs Call for an End to Oil Aid:'.
- The Government Accountability Project (GAP) is accusing beleaguered World Bank President Paul Wolfowitz of trying to weaken references to climate change in the World Bank’s Clean Energy and Investment Framework. GAP has released an internal summary of a February 2006 World Bank meeting on the Framework. The summary includes the following passage: “Feedback from the...
Continue reading 'Heating up for Wolfowitz at the Bank'.
- Only 10 days after Congressman Maurice Hinchey introduced the End Oil Aid Bill in the U.S. Congress, more than 150 organizations from 50 countries have written to House Speaker, Nancy Pelosi, recognizing her clean energy efforts and calling on her to lend support to eliminate international ‘oil aid’. The letter (Acrobat pdf) cites over $20...
Continue reading 'An Appeal to Pelosi to Help End Oil Aid'.
- A group of 40 German NGOs called on G8 Environment Ministers today to phase out fossil fuel subsidies at home and use their influence to steer the World Bank away from fossil fuels and towards a new energy revolution. A long list of German organizations, including the German NGO Forum on Environment and Development, Oxfam...
Continue reading 'Germans Unite Against Oil Aid!'.
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