Why the World Bank Must Shut the Spigot on Private Water
Just in time for the World Bank’s Spring Meetings, we released “Shutting the Spigot on Private Water.” With original financial analysis and case studies, the landmark report documents how the World Bank is driving global water privatization at a chilling human cost.
The World Bank’s stated mission is to alleviate poverty and support sustainable development. The report demonstrates how, if the the World Bank is going to align its actions with its mission, it must divest from private water projects.
The report exposes the conflicts of interest arising from the World Bank’s direct investment in global water corporations. And, it reveals the World Bank’s close ties to water profiteers: a primary reason water privatization continues despite its financial imprudence and negative impacts.
“Our most precious shared resource must remain in the hands of the people,” said Maria Theresa Nera-Lauron of IBON International, an allied organization based in the Philippines, that has witnessed the destructive effects of water privatization. “The World Bank should be funding public water projects—not helping to line the pockets of profiteers. This powerful report is a critical rallying cry for all of us determined to move the World Bank from its harmful practices.”