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The World Bank-China ranking controversy refers to the alleged manipulation of China’s ranking in the World Bank’s annual Doing Business report by World Bank officials while they were negotiating a multibillion-dollar capital increase from China.
The World Bank has regularly failed to live up to its own policies for protecting people harmed by projects it finances. The World Bank and its private-sector lending arm, the International Finance Corp., have financed governments and companies accused of human rights violations such as rape, murder and torture.
How The World Bank Is Financing Environmental Destruction. India. A Power Plant Backed By The World Bank Group Threatens A Way Of Life. Honduras. World Bank’s Business-Lending Arm Backed Palm Oil Producer Amid Deadly Land War. Kosovo. Kosovars Who Rebuilt War-Torn Village Face New Threat As World Bank Considers Coal-Burning Power Plant
The World Bank was the subject of a scandal with its then-president Paul Wolfowitz and his aide, Shaha Riza, in 2007. [122]
The World Bank blacklisted the Canadian firm, SNC-Lavalin Inc, and banned it from any business for 10 years due to the firm's alleged involvement in Padma Bridge project corruption scandal. [10] Since the World Bank withdrew its involvement, the estimated cost of the bridge has climbed by over US$3 billion [11] and the expected completion date ...
In Honduras, the business-lending arm of the World Bank aligned itself with a key player in a land dispute that has left more than 130 people dead, including Gregorio Chávez, a preacher who went out to tend his garden one day and didn’t come back. In the last decade, the International Finance Corp.’s lending and influence has soared, even as it has embraced financing methods that shield ...
Here’s a look at five more bank scandals that appalled investors in 2020. HSBC, JPMorgan Chase, Deutsche Bank, Standard Chartered and Bank of New York Mellon were all accused of moving dirty ...
Deutsche Bank, spying scandal; Deutsche Bank Libor scandal, agreed to a combined US$2.5 billion in fines; Duke Energy [10] El Paso Corp. [10] Fannie Mae, underreporting of profit; Firestone Tire & Rubber Company, part of the General Motors streetcar conspiracy, labor controversies, Firestone and Ford tire controversy