Bank will always BE bank

 

 

Once again civil society activists, NGOs and the intelligentsia got together to voice their criticism of World Bank funded policies and projects. JNU, New Delhi provided the venue for the discussions and deliberations from September 21-24. Several documents and testimonies presented by people establishing the devastating consequences of policies dictated by World Bank were screened. Issues concerning marginalised and vulnerable communities, women, children, minorities, farmers and fishing communities, among others, were discussed in depth. The convenors selected jury members including eminent persons like Mahasweta Devi, Aruna Roy, Arundhati Roy and Amit Bhaduri. A convenor of the tribunal, Prashant Bhusan, stressed on wealthy countries controlling the World Bank and other multilateral financial institutions.

Several testimonies were placed by people across the country highlighting the failure of health and education projects. “A bank is a bank is a bank” says Imrana Khadir, a retired professor from the department of Social Medicine, speaking on, "The impact of neo-liberalism and the World Bank on Health," and stressing on its lack of social vision. World Bank promoted projects like the Common Effluent Treatment Plants were opposed by environment activists. J. John, labour rights activists said the Bank was exerting pressure on developing countries to deregulate and make flexible the labour market.

The World Bank was established in 1945, after World War II, with the purpose of assisting countries to cope with post-war reconstruction. In the changed international political and economic scenario, World Bank claims to aim at world poverty alleviation, but the tribunal has put forward several instances where it shows the Bank reflecting the interests of transnational corporations.