USA Africa Dialogue Series - Fwd: PRESS RELEASE:The World Bank Ignores Africa Concerns

Thompson,

 

See below for the statement final copy.  I think yesterday you told me that you were working on a PDF hyperlink of Zoellick’s letter to IPPA.  Can you please send that to me so that I can include here below?  If you don’t have it, that is fine and we can leave out, but I think it would make it more powerful to include that.

 

Thanks,

 

Oliver

 

 

 

 

The World Bank Ignores Africa Concerns
   
President Zoellick Doing the Bidding of Environmental Zealots and other Vested Interests
 

November 24, 2010 (Lagos, Nigeria)â€"The Initiative for Public Policy Analysis (IPPA), the Nigeria-based public policy think-tank, today decried recent comments by an IFC official on the sidelines of a Roundtable on Sustainable Palm Oil meeting in Jakarta. 
 
IFC Agribusiness official Atul Mehta recently stated, "If we reach a point which we don't think [palm oil loan recipients] have the commitment or they don't meet it, we can invoke contractual requirements to exit." 
 
IPPA believes this statement is inexcusable.  The World Bank and IFC have demonstrated a heavy-handed attempt to impose sustainability standards, which would hamper economic prosperity among smallholders and contradict the Bank’s mandate of alleviating poverty through economic development.
 
“The World Bank’s stylish evolut! ion to become a global environmental regulator continues to underscore ! that efforts to alleviate poverty are no longer the Bank’s priorities,” said Thompson Ayodele, Director of IPPA and author of a recent New York Times editorial, The World Bank’s Palm Oil Mistake.
 
“The World Bank’s new rules have far-reaching consequences beyond palm oil and will impact small farmers across Africa making them unable to expand their production or enhance their yields. These conditions run contrary to the Bank’s stated goals of helping people help themselves.”
 
“In a recent response to IPPA and seven other African economists, President Zoellick again reaffirmed a misplace! d commitment for green lending standards. He writes, ‘…when sustainability criteria are not followed, palm oil production has led to negative environmental and social impacts.’  This is flimsy and ignores palm oil’s proven record of reducing poverty and protecting forested land.   
 
“It’s unfortunate President Zoellick is moving to impose these standards.  This evolution in the Bank’s priorities plays directly into the hands of Environmental Zealots, whom have captured the World Bank and use it to promote their own skewed environmentalist agendas. It’s sad that the World Bank has become a willing tool in the hands of environmentalists’ campaign to limit and restrict economic growth.
 
“The Bank’s freezing of palm oil l! ending, and the evolution of the Bank’s prioritization of sustainability criteria, could likely have grave consequences for all commodities such as soybeans, sugar, coffee and all fruit and vegetable industries seeking loans â€" the  victims of this misguided policy will not only be farmers in Africa but all developing world agricultural workers and producers.”
 
Nigeria is the third largest producer of palm oil following Indonesia and Malaysia. The country provides a clear example of how palm oil, as a result of its high yield and low production costs, is a highly effective means of alleviating poverty and promoting economic development, the primary reason for the existence of the World Bank and International Finance Corporation.
 
The Initiative for Public Policy Analysis (IPPA), the 2005 award-winning organization, is Nigeria's public policy research institute! or think tank. Its major concern is with the principles and institutions that enhance economic development and wealth creation, with particular focus on Africa and Nigeria.
 
For media enquiries, please contact the author of the report Thompson Ayodele on +234.1.791.0959, +234.80.2302.5079 or thompson@ippanigeria.org.
   
IPPA News Coverage:

 

New York Times Op-Ed by Thompson Ayodele, The World Bank’s Palm Oil Mistake, October 16, 2010

 

The Guardian, World Bank Suspends N19.8b Palm Oil Investment in Nigeria, Others, October 7, 2010
 

Business Day Op-Ed by Thompson Ayodele and Richard Tren, Bank's Palm Oil Cop-Out Thwarts Its Goals, September 30, 2010

 
The Guardian, Nigeria’s Palm Oil Industry Has Lots of Potential for Economic Growth, Says Expert, September 7, 2010
 
The Nation, IPPA Highlights Benefits of Palm Oil, August 26, 2010
 
The Hindu Business Line, Palm Oil Can Alleviate Poverty, Foster Growth: Report, August 23, 2010

 

IPPA Press Releases:

 

African Economists Urge World Bank President t! o Halt Palm Oil Investment Freeze, October 6, 2010
 

Nigerian Think-Tank Lauds Liberia Palm Oil Investment, Will Create New Jobs and Economic Growth, September 13, 2010
 
IPPA Report Frames African Case for Palm Oil, Urges Renewed World Bank Focus on Poverty Reduction, August 23, 201! 0

 

IPPA Resources:
 
African Economists Letter to World Bank President Robert Zoellick, October 6, 2010
  
African Case Study: Palm Oil and Economic Development in Nigeria and Ghana; Recommendations for the World Bank’s 2010 Palm Oil Strategy, August 2010
 
Initiative for Public Policy Analysis
Address: 9A, Adekunle Odunlami Street, Off Aina George, Ilupeju, Lagos, Nigeria
Phone: +234-1-791-0959, +234-(0)80-2302-507 | URL: www.ippanigeria.org

---------- Forwarded message ----------
From: Thompson Ayodele <thompson@ippanigeria.org>
Date: 24 November 2010 16:05
Subject: PRESS RELEASE:The World Bank Ignores Africa Concerns
To: toyin.adepoju@googlemail.com


The World Bank Ignores Africa Concerns

President Zoellick Doing the Bidding of Environmental Zealots and other
Vested Interests

November 24, 2010 (Lagos, Nigeria) The Initiative for Public Policy
Analysis (IPPA), the Nigeria-based public policy think-tank, today decried
recent comments by an IFC official on the sidelines of a Roundtable on
Sustainable Palm Oil meeting in Jakarta.

IFC Agribusiness official Atul Mehta recently stated
<http://www.reuters.com/article/idUSTRE6A94EE20101110>, "If we reach a
point which we don't think [palm oil loan recipients] have the commitment
or they don't meet it, we can invoke contractual requirements to exit."

IPPA believes this statement is inexcusable.  The World Bank and IFC have
demonstrated a heavy-handed attempt to impose sustainability standards,
which would hamper economic prosperity among smallholders and contradict
the Bank's mandate of alleviating poverty through economic development.

The World Bank's stylish evolution to become a global environmental
regulator continues to underscore that efforts to alleviate poverty are no
longer the Bank's priorities,ť said Thompson Ayodele, Director of IPPA and
author of a recent New York Times editorial, The World Bank's Palm Oil
Mistake <http://www.nytimes.com/2010/10/16/opinion/16ayodele.html?_r=2> .

The World Bank's new rules have far-reaching consequences beyond palm oil
and will impact small farmers across Africa making them unable to expand
their production or enhance their yields. These conditions run contrary to
the Bank's stated goals of helping people help themselves.

In a recent response to IPPA and seven other African economists
<http://www.ippanigeria.org/zoellickresponse.pdf>, President Zoellick
again reaffirmed a misplaced commitment for green lending standards. He
writes: "...when sustainability criteria are not followed, palm oil
production has led to negative environmental and social impacts." This is
flimsy and ignores palm oil's proven record of reducing poverty and
protecting forested land.

It's unfortunate President Zoellick is moving to impose these standards.
This evolution in the Bank's priorities plays directly into the hands of
Environmental Zealots, whom have captured the World Bank and use it to
promote their own skewed environmentalist agendas. It's sad that the World
Bank has become a willing tool in the hands of environmentalists' campaign
to limit and restrict economic growth.

The Bank's freezing of palm oil lending, and the evolution of the Bank's
prioritization of sustainability criteria, could likely have grave
consequences for all commodities such as soybeans, sugar, coffee and all
fruit and vegetable industries seeking loans " the  victims of this
misguided policy will not only be farmers in Africa but all developing
world agricultural workers and producers.ť

Nigeria is the third largest producer of palm oil following Indonesia and
Malaysia. The country provides a clear example of how palm oil, as a
result of its high yield and low production costs, is a highly effective
means of alleviating poverty and promoting economic development, the
primary reason for the existence of the World Bank and International
Finance Corporation.

The Initiative for Public Policy Analysis (IPPA), the 2005 award-winning
organization, is Nigeria's public policy research institute or think tank.
Its major concern is with the principles and institutions that enhance
economic development and wealth creation, with particular focus on Africa
and Nigeria.

For media enquiries, please contact the author of the report Thompson
Ayodele on +234.1.791.0959, +234.80.2302.5079 or thompson@ippanigeria.org
<mailto:thompson@ippanigeria.org> .

IPPA News Coverage:

New York Times Op-Ed by Thompson Ayodele, The World Bank's Palm Oil
Mistake, October 16, 2010
<http://click.icptrack.com/icp/relay.php?r=-1&msgid=0&act=11111&c=586470&destination=http%3A%2F%2Fwww.nytimes.com%2F2010%2F10%2F16%2Fopinion%2F16ayodele.html%3F_r%3D2>

The Guardian, World Bank Suspends N19.8b Palm Oil Investment in Nigeria,
Others, October 7, 2010
<http://click.icptrack.com/icp/relay.php?r=-1&msgid=0&act=11111&c=586470&destination=http%3A%2F%2Fwww.guardiannewsngr.com%2Findex.php%3Foption%3Dcom_content%26view%3Darticle%26id%3D25215%3Aworld-bank-suspends-n198b-palm-oil-investment-in-nigeria-others%26catid%3D31%3Abusiness%26Itemid%3D562>

Business Day Op-Ed by Thompson Ayodele and Richard Tren, Bank's Palm Oil
Cop-Out Thwarts Its Goals, September 30, 2010
<http://click.icptrack.com/icp/relay.php?r=-1&msgid=0&act=11111&c=586470&destination=http%3A%2F%2Fwww.businessday.co.za%2Farticles%2FContent.aspx%3Fid%3D122359>

The Guardian, Nigeria's Palm Oil Industry Has Lots of Potential for
Economic Growth, Says Expert, September 7, 2010
<http://click.icptrack.com/icp/relay.php?r=-1&msgid=0&act=11111&c=586470&destination=http%3A%2F%2Fwww.guardiannewsngr.com%2Findex.php%3Foption%3Dcom_content%26view%3Darticle%26id%3D22259%3Anigerias-palm-oil-industry-has-lots-of-potential-for-economic-growth-says-expert%26catid%3D31%3Abusiness%26Itemid%3D562>

The Nation, IPPA Highlights Benefits of Palm Oil, August 26, 2010
<http://click.icptrack.com/icp/relay.php?r=-1&msgid=0&act=11111&c=586470&destination=http%3A%2F%2Fthenationonlineng.net%2Fweb3%2Fbusiness%2Findustry%2F10938.html>

The Hindu Business Line, Palm Oil Can Alleviate Poverty, Foster Growth:
Report, August 23, 2010
<http://click.icptrack.com/icp/relay.php?r=-1&msgid=0&act=11111&c=586470&destination=http%3A%2F%2Fwww.blonnet.com%2F2010%2F08%2F24%2Fstories%2F2010082450951800.htm>

IPPA Press Releases:
African Economists Urge World Bank President to Halt Palm Oil Investment
Freeze, October 6, 2010
<http://click.icptrack.com/icp/relay.php?r=-1&msgid=0&act=11111&c=586470&destination=http%3A%2F%2Fwww.ippanigeria.org%2Fpress%2F3.html>

Nigerian Think-Tank Lauds Liberia Palm Oil Investment, Will Create New
Jobs and Economic Growth, September 13, 2010
<http://click.icptrack.com/icp/relay.php?r=-1&msgid=0&act=11111&c=586470&destination=http%3A%2F%2Fwww.ippanigeria.org%2Fpress%2F1.html>

IPPA Report Frames African Case for Palm Oil, Urges Renewed World Bank
Focus on Poverty Reduction, August 23, 2010
<http://click.icptrack.com/icp/relay.php?r=-1&msgid=0&act=11111&c=586470&destination=http%3A%2F%2Fwww.ippanigeria.org%2Fpress%2F2.html>

IPPA Resources:

African Economists Letter to World Bank President Robert Zoellick, October
6, 2010
<http://click.icptrack.com/icp/relay.php?r=-1&msgid=0&act=11111&c=586470&destination=http%3A%2F%2Fwww.ippanigeria.org%2Frobertzoellick.pdf>

African Case Study: Palm Oil and Economic Development in Nigeria and
Ghana; Recommendations for the World Bank's 2010 Palm Oil Strategy, August
2010
<http://click.icptrack.com/icp/relay.php?r=-1&msgid=0&act=11111&c=586470&destination=http%3A%2F%2Fwww.ippanigeria.org%2Fworldbankreport.pdf>

Initiative for Public Policy Analysis
Address: 9A, Adekunle Odunlami Street, Off Aina George, Ilupeju, Lagos,
Nigeria
Phone: +234-1-791-0959, +234-(0)80-2302-5079 | URL: www.ippanigeria.org
<http://click.icptrack.com/icp/relay.php?r=-1&msgid=0&act=11111&c=586470&destination=http%3A%2F%2Fwww.ippanigeria.org>

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