International Finance Corporation (IFC)

The World Bank and its partners need to do a far better job of considering the environmental effects of projects they finance in poor countries, its internal review group concludes in a new report. The review, released Tuesday, examined some of the $400 billion in investments in nearly 7,000 projects from 1990 to 2007. It found that recent pledges for environmental sustainability by the bank and sister institutions, including the International Finance Corporation, were often not put into practice when dollars were turned into dams, pipelines, palm plantations and the like.