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Greed powers the climate crisis, and the World Bank and the International Monetary Fund (IMF) have determined that fueling it and perpetuating international suffering is central to their business model. They have weighed human lives and the suffering of millions from climate-driven disasters as a worthy trade-off for profit. While the Philippines and other countries drown in floods and corruption, these financial institutions and the elite are awash in the profit made from th

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

Quezon City, Philippines — The Philippine Movement for Climate Justice (PMCJ), together with coal-affected communities, held a protest on Oct. 13, 2025 in front of the World Bank (WB) office in Taguig, in light of the WB and International Monetary Fund (IMF) Annual Meetings. On Oct. 13-17, 2025, the PMCJ will intervene at the WB-IMF Annual Meetings in Washington, DC to echo calls for remedies for communities affected by coal-fired power plants financed by the International F

IFC's Performance Standards Review Must Address Legacy Harms to be a True Game Changer Elle Bartolome | Senior...

Residents stage a fluvial protest against the World Bank-IFC for funding the coal-fired power plant in Masinloc, Zambales. • The World...