Development doesn't work

If we draw a list of groups championing the ideology of neo-liberal capitalism, the World Bank and International Monetary Fund (IMF) will find a place right at the beginning. Their poverty alleviation and development programmes have only created more poverty. Of course there are a few who have benefitted. It’s an easy guess.

In an interview with The Real News, Alnoor Ladha, Executive Director of The Rules, talks about the World Bank’s and the IMF’s policies that have disregarded the environment and people. He says that since inception, their true intention has always been to ‘facilitate western corporate interest’.

Watch the complete interview here:

Read a transcript of the interview on The Real News.

 

According to an investigative report, The World Bank displaced 3.4 million people across the globe. This is an impact of the projects funded by the Bank. Though the Bank talks about sustainable development and poverty eradication, its work is doing just the opposite.

Their structural adjustment programs, now known as Doing Business Rankings are designed to aid corporate land grab in developing regions. To do well in these rankings, countries have to axe environmental safeguards, labour laws, land rights; basically anything that is not favourable for corporations.

The Rules, along with 260 other civil society organisations, has been challenging the World Bank’s Doing Business Ranking and more recently the Enabling the Business of Agriculture ranking.

Last year activists all over the world came together to protest against the World Bank’s business rankings. The Bank’s Spring Meeting in 2015 also saw protestors telling the Bank that to end their hypocritical policies.

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