Results for: World Bank

After an initial $10 billion aid plan, Brazil is seeking further financial assistance from international organizations to recover from the catastrophic floods in Rio Grande do Sul. The government is in discussions with the International Monetary Fund and the World Bank to secure funding for the reconstruction of the affected southern state. Meanwhile, the finance ministry prioritizes supporting the affected population while maintaining fiscal responsibility and exploring sustainable debt sales amidst challenging market conditions.

The World Bank has suspended funding for a controversial tourism project in Tanzania following accusations of extrajudicial killings, disappearances, and sexual assaults against local villagers. The project, known as REGROW, has been tied to a cascade of human rights abuses, according to the Oakland Institute, a California-based advocacy group. The Tanzanian government’s plans included work aimed at nearly doubling the size of Ruaha National Park (RUNAPA), the largest protected wildlife area in the country, from one million to over two million hectares. However, the expansion plans have led to the forced eviction of over 21,000 people without compensation or other land. Despite the allegations, luxury tourist options for visiting the park continue to abound. The World Bank’s suspension of funding comes after years of pressure from the Oakland Institute and local villagers. The Oakland Institute has called the decision “long overdue” and said it sends a message to the Tanzanian government that there are consequences for its human rights abuses.

The World Bank’s economic update for 2024-25 projects a challenging outlook for the economies of the Caucasus and Central Asia due to China’s decelerating economy and moderating commodity prices. Azerbaijan is expected to see a modest uptick in growth, while Armenia and Georgia face economic downturns. Central Asia’s economic outlook varies, with Kyrgyzstan and Tajikistan facing sharp declines in growth rates and Kazakhstan and Uzbekistan experiencing marginal increases. The region is highly vulnerable to geopolitical factors, rising food costs, and global warming.

The World Bank has halted funding for a $150 million tourism and conservation project in Tanzania following allegations of human rights abuses, including forced evictions and violence against communities near Ruaha National Park. The project, known as REGROW, aimed to enhance the management of natural resources and tourism assets in southern Tanzania, but raised concerns from the Oakland Institute regarding the displacement and mistreatment of tens of thousands of villagers.

The World Bank has halted funding for a tourism project in Tanzania amidst allegations of serious human rights violations affecting local communities. The project, called REGROW, aimed to enhance natural resource management and tourism assets in southern Tanzania. However, rights groups, including the Oakland Institute, have documented incidents of extrajudicial killings, sexual assaults, and cattle seizures carried out by rangers.