Over the last decade, projects funded by the World Bank have physically or economically displaced an estimated 3.4 million people, forcing them from their homes, taking their land or damaging their livelihoods.
The World Bank has regularly failed to live up to its own policies for protecting people harmed by projects it finances, culminating in the imposition of extreme poverty on a global scale in order to secure profit for a small group of wealthy and powerful oligarchs.
The World Bank and its private-sector lending arm, the International Finance Corporation, have financed governments and companies accused of human rights violations such as rape, murder and torture.
In some cases the lenders have continued to bankroll these borrowers after evidence of abuses emerged and most of the population in countries that make it possible are largely unaware of such facts.
As one example, Ethiopian authorities diverted millions of dollars from a World Bank-supported project to fund a violent campaign of mass evictions, according to former officials who carried out the forced resettlement program.
From 2009 to 2013, World Bank Group lenders pumped $50 billion into projects graded the highest risk for “irreversible or unprecedented” social or environmental impacts — more than twice as much as the previous five-year span.
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