Facsimile edition of CCAS newsletter,no. 1 (May 1968)

Abstract

We have heard a great deal about the greening of the World Bank. The Bank now has an Environmental Department, its projects go through an environmental impact assessment, and it even finances “green” projects through the Global Environment Facility. However, the financing of nature's destruction and people's destitution and disempowerment continues unabated. It is not enough to look at projects directly funded by the World Bank to see the social and ecological disruption that it has caused over the past half a century and still continues to create. The impact of the World Bank is increasingly being felt through structural and sector adjustment loans that influence the macropolicies of entire countries. These loans have much wider influence because they make the World Bank's destructive policies more diffused and more invisible than its projects. The third and deeper level of the World Bank's responsibility in rupturing the social and environmental fabric of survival emerges from the paradigms it diffuses throughout the world through its research, publications, and advice. The social and ecological impact of the World Bank therefore needs to be assessed on the basis of its interventions at all three levels—projects, policies, and paradigms.