challenges

• Voting rights and influence

  • voting rights in the WB are proportional to the country’s financial contribution 
  • countries with larger financial contributions have more voting power, which can influence decision making
  • this means that poorer nations have negligible influence
  • The G7 countries such as France, Germany, Italy hold 45% of the voting rights while many poorer nations only hold less than 0.1% of the voting rights
• Profit-driven

  • The world bank operates like a financial institutions, pursuing profits and returns on investments 
  • This profit motive can lead to decisions that prioritise financial returns over sustainable development 
  • Eg. For every dollar that the US invests in the WB, it receives $1.10 and the UK receives $1.90. This financial dynamic raises concerns about whether the Bank’s policies favour wealthier countries
• Environment sustainability issues

  • Many WB projects have been criticised for lacking environmental sustainability 
  • Environment assessments are often conducted too late, and there is inadequate public consultation. The oversight can lead to significant ecological damage 
  • Eg. The Carajas iron ore project in the Amazon caused deforestation equivalent to the size of England and France combined. Similarly the Polonoroeste Highway project not only destroyed vast areas of rainforest but also led to the resettlement of 30,000 families