Home > Press releases > Archived press releases > 2004 > UK Government urges World Bank to Reform
14 August 2004
The UK Government has sent a letter to the World Bank, disclosed to Friends of the Earth, stating its views on the future of World Bank lending for oil, mining and gas. The World Bank Group is partially financed by UK tax payers. The Government has stated that the World Bank has not gone far enough to implement recommendations of the Extractive Industries Review (EIR) - a three year review of the Banks lending for oil, mining and gas projects.
Hannah Ellis, Friends of the Earth's International Financial Institutions Campaigner said:
"Friends of the Earth welcome with caution the Governments agreement that the World Bank is not doing enough for the people and the environment it is supposed to serve. The Government is yet to make clear what exactly the World Bank must do now and how the UK Government, as a major shareholder of the Bank, is going to make them do it."
The EIR concluded that in most cases, World Bank investments in oil, mining and gas was not alleviating poverty or promoting sustainable development. The EIR recommendations included that the World Bank must:
In a position paper sent to Friend of the Earth [1], the UK Government described the World Bank's response to the EIR recommendations to increase Bank lending for renewable energy as "insufficient". The position paper adds:
"The World Bank needs to make a greater and more urgent commitment to renewable energy, cleaner energy technologies, natural gas and improved energy efficiency."
Friends of the Earth, along with a range of other environmental and development groups have been pushing the UK Government, represented on the World Bank Board and a major shareholder of the Bank, to ensure full implementation of the review. The EIR has been endorsed by 100s of Indigenous groups, European Parliamentarians and religious leaders all over the world [2].
Hannah Ellis, Friends of the Earth's International Financial Institutions Campaigner added:
`It is very disappointing that it only now, when the final decision has already been made, that the UK Government has made its views regarding the Extractive Industries Review public. Now that the review process is over, how is the UK Government going to take this forward? It is all very well coming out with the right words after the event but it is time the UK demanded the World Bank make poverty alleviation and sustainable development a reality."
For further information please contact the Friends of the Earth media team on 020 7566 1649.
Discuss "UK Government urges World Bank to Reform" in our forum
Published by Friends of the Earth Trust
Go to our press releases area for our current press releases.
Contact us | Support us | Privacy policy
Copyright © Friends of the Earth Trust/Limited
