When The World Bank Does More Harm Than Good

NPR - April 17, 2015

The World Bank's goal is to end extreme poverty and to grow income for the poorest people on the planet.
The bank does this by lending money and giving grants to governments and private corporations in some of the least developed places on the planet. For example, money goes to preserving land, building dams and creating health care systems.
But a lot of poor people actually end up worse off because of those projects, a report from The International Consortium of Investigative Journalists found.
People are often displaced, or their livelihoods are ruined. Over the past decade an estimated 3.4 million people have been displaced by bank-funded projects, says Michael Hudson, a senior editor at ICIJ, who worked on the report. In one instance, hundreds of families had their homes burned down.
"The World Bank has promised 'do no harm,' but our reporting has found that the World Bank has broken this promise," Hudson says.

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