World Bank, Development Delusion and Other Interesting Articles

Just read a great and informative article about the World Bank entitled “The World Banks Development Delusion”. The article briefly explores the history of the Bank and argues the need for change in the funding approach used by the World Bank, in its attempts to facilitate development and reduce poverty. The article made the following interesting points:

  • History shows that most of the countries that have come under the sway of the World Bank – and its sister institution, the IMF – have experienced declining development outcomes over the past 30 years or so.
  • Developing countries need much more control over decisions that affect them. Power in the World Bank is presently apportioned according to members’ shares, just like in a corporation. Major decisions require 85% of the vote, and the United States, which holds about 16% of the shares (and controls the presidency), wields de facto veto power. The same is true of the IMF. Developing countries together hold less than 50% of the vote, which is shocking given that the institution supposedly exists to promote their welfare. • Development aid should be delinked from corporate bonds. This would take Wall Street’s interests out of the equation, eliminate the pressure to siphon wealth from debtors, and allow the bank to evaluate its performance on the basis of poverty reduction outcomes instead of loan volume, as is the current practice. (http://www.thoughtleader.co.za/jasonhickel/2012/09/28/the-world-bank-and-the-development-delusion/)

The article also reminded me about the poem The Development Set. Yes, I know I always mention this but it’s only because it’s so true and I have yet to see any real evidence of development finance institutions trying to steer away from being tarred by the same brush that tarred “The Development Set”.

Should you wish to find out more on unsustainable aid, read the article on the World Bank and its development delusions and or read the poem The Development Set, check out the links below:

The need for Sustainable Aid

Aid, Development and the Development Set

The World Banks Development Delusion

Infrastructure Development and Funding

Aid, Development & The Development Set !

This is an old poem I found which I think is very pertinent and also very sad.

I work in the Development Finance and Environmental sector (10+ years) and am often very disheartened and sad when I think about all the green wash and the fact that good development projects and proposals often get overlooked for projects that don’t necessarily make sense (or only make financial sense) when you look at all the issues and consider sustainability etc.

Don’t get me wrong there are lots of good organisations out there that do good work but in my opinion there is also a lot of hot air/ big development talk etc that is not actually helping anyone except for the people who fly around the world telling people what they should be doing and how they should be doing it.

The poem made me think… we haven’t really come very far or achieved much development impact or sustainability since the 1970s (when the poem was written) ….other than the development set living much cooler lives and travelling around holding more and more very important talk-show sessions? The poem also made me think of COP 17 and what the real cost of COP17 was. (Click on links for previous blog posts on COP17).

The Development Set by Ross Coggins

Excuse me, friends, I must catch my jet I’m off to join the Development Set;

My bags are packed, and I’ve had all my shots I have traveller’s checks and pills for the trots!

The Development Set is bright and noble

Our thoughts are deep and our vision global;

Although we move with the better classes

Our thoughts are always with the masses.

In Sheraton Hotels in scattered nations

We damn multi-national corporations;

injustice seems easy to protest In such seething hotbeds of social rest.

We discuss malnutrition over steaks

And plan hunger talks during coffee breaks.

Whether Asian floods or African drought,

We face each issue with open mouth.

We bring in consultants whose circumlocution

Raises difficulties for every solution –

Thus guaranteeing continued good eating

By showing the need for another meeting.

The language of the Development Set Stretches the English alphabet;

We use swell words like “epigenetic” “Micro”, “macro”, and “logarithmetic”

It pleasures us to be esoteric – It’s so intellectually atmospheric!

And although establishments may be unmoved,

Our vocabularies are much improved.

When the talk gets deep and you’re feeling numb,

You can keep your shame to a minimum:

To show that you, too, are intelligent

Smugly ask, “Is it really development?”

Or say,

“That’s fine in practice, but don’t you see: It doesn’t work out in theory!”

A few may find this incomprehensible,

But most will admire you as deep and sensible.

Development set homes are extremely chic,

Full of carvings, curios, and draped with batik.

Eye-level photographs subtly assure

That your host is at home with the great and the poor.

Enough of these verses – on with the mission!

Our task is as broad as the human condition!

Just pray god the biblical promise is true:

The poor ye shall always have with you.

From “Adult Education and Development” September 1976