Company Directory - World Bank
Company Details - World Bank
World Bank
WebsiteWashington, D.C., United States
An international financial institution that provides loans and grants to the governments of poorer countries for the purpose of pursuing capital projects. It aims to reduce poverty by supporting sustainable development and economic growth.
CCI Score
CCI Score: World Bank
-49.98
0.02%
Latest Event
World Bank Funds Companies Linked to Forced Labour in Xinjiang
A report by the Atlantic Council accuses the World Bank’s development arm, the IFC, of directing roughly $486 million in loans and equity investments to four companies in Xinjiang that are implicated in forced labour and the repression of Uyghur and other Muslim minorities. The financing appears to breach the institution's own ESG standards.
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QUISLING
World Bank is currently rated as a Quisling.
Latest Events
- FEB172022
A report by the Atlantic Council accuses the World Bank’s development arm, the IFC, of directing roughly $486 million in loans and equity investments to four companies in Xinjiang that are implicated in forced labour and the repression of Uyghur and other Muslim minorities. The financing appears to breach the institution's own ESG standards.
-80
Labor Relations and Human Rights Practices
April 16
By financing companies associated with forced labour practices in Xinjiang, the World Bank (through IFC) is implicated in supporting repressive labor conditions and human rights abuses. This action undermines ethical labor practices and the protection of marginalized communities, warranting a significantly negative rating in the area of Labor Relations and Human Rights Practices.
World Bank accused of lending to companies linked to forced labour in Xinjiang
- FEB162022
A CNN investigation highlighted that the IFC, a member of the World Bank Group, has provided hundreds of millions of dollars in loans to Chinese companies accused of relying on forced labor in Xinjiang, raising serious concerns about the World Bank’s due diligence and ethical oversight in its financing practices.
-80
Labor Relations and Human Rights Practices
April 16
The report reveals that the IFC, operating under the World Bank Group, has financed companies allegedly involved in forced labor practices in Xinjiang. Such financing signals a significant lapse in upholding labor rights and ethical responsibility, particularly affecting marginalized communities dependent on fair labor practices.
-70
Regulatory Capture
April 16
Despite evidence suggesting forced labor in its financed projects, the IFC has continued its investments in Xinjiang without sufficient direct oversight. This persistent lack of regulatory scrutiny implies a trend towards regulatory capture, undermining the institution's responsibility to ensure ethical standards and protect vulnerable communities.
- JUN302017
On 30 June 2017, the World Bank board approved a USD145 million irrigation project in Uzbekistan's cotton sector despite multiple documented allegations of forced and child labour in the region. Critics argue that this decision overlooks serious human rights concerns linked to the country's cotton industry.
-80
Labor Relations and Human Rights Practices
April 16
The approval of the project comes despite evidence and complaints regarding forced and child labour in Uzbekistan's cotton sector. This neglect of serious human rights issues reflects poorly on the World Bank's commitment to ethical labor practices and worker rights.
World Bank approves USD145 million Uzbekistan cotton project despite forced labour concerns
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