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Philippine Communities Demand World Bank Reinvest $39 Million of Toxic Returns in Remedy for Affected People
The World Bank's private sector arm pocketed millions from an equity investment in a Philippine bank, while spending nothing on remedy for the harm caused by 10 new coal-fired power plants it financed. MANILA, 7 October 2026 — On the eve of the World Bank Group Annual Meetings in Bangkok, new analysis reveals the International Financial Corporation (IFC) and its Capitalisation Fund made an estimated US$39 million in total return from its investment in a Philippine bank, whose
Media Communications
19 hours ago4 min read
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