The World Bank Group has indirectly financed some of Africa’s most notorious land grabs, according to a report by a group of international development watchdogs. The World Bank’s private-sector arm, the International Finance Corporation (IFC), is enabling and profiting from these projects by outsourcing its development funds to the financial sector.
The World Bank has for decades left a trail of human misery. Destruction of the environment, massive human rights abuses and mass displacement have been ignored in the name of “development” that works to intensify neoliberal inequality. In response to legal attempts to hold it to account, the World Bank has declared itself above the law.