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Will the World Bank Back Down? Water Privatization in a Climate of Global Protest

By contrast, other scholars argue that private remedies should be strengthened to enforce corporate governance standards at banks. 5 Many propose improving banks’ accountability and efficiency of operations by increasing the legal duties that bank directors and senior management owe to depositors and other creditors. This would involve expanding the scope of fiduciary duties beyond shareholders to include depositors and creditors. 6 Under this approach, depositors and other creditors could sue the board of directors for breach of fiduciary duties and the standard of care, in addition to whatever contractual claims they may have. This would increase banks. | Public Citizen Will the World own Water Privatization in a Climate . of rotest Will the World Bank Back Down Water Privatization in a Climate of Global Protest A special report by Public Citizen s Water for All program Sara Grusky and Maj Fiil-Flynn Photograph by Maj Fiil-Flynn April 2004 2004 Public Citizen. All rights reserved This document can be viewed or downloaded www.wateractivist.org - www.worldbankwatch.org WAT E R FOR TALL CAMPAIGNING TO KEEP WATER AS A PUBLIC TRUST Water for All Campaign 215 Pennsylvania Ave. S.E Washington D.C. 20003 tel 202 588.1000 fax 202.547.7392 cmep@citizen.org www.wateractivist.org Water for All Campaign California 1615 Broadway 9th floor Oakland CA 94612 tel 510.663.0888 fax 510.663.8569 california@citizen.org www.citizen.org california water Citizen Public Citizen founded in 1971 is a non-profit research lobbying and litigation organization based in Washington. D.C. Public Citizen advocates for consumer protection and for government and corporate accountability and is supported by over 150 000 members throughout the United States. CONTENTS Introduction.1 The History of World Bank Water and Sanitation Policies.1 Millennium Development Goals A Wolf in Sheep s Clothing.3 Ex-IMF Director Chairs Panel on Financing Water Infrastructure.4 Watching the Bank World Bank Water and Sanitation Loans 2000-2004.4 Central Asia Eastern Europe and the Mid-East.4 East South and South-East Asia.7 Africa.9 Latin America.12 Middle East.14 Reviewing World Bank Loans Over Time.15 Has the World Bank Backed Down .17 Conclusion.18 APPENDIX Eastern Europe former USSR.19 Asia.23 Africa.26 Latin America.30 Middle East.33 NOTES.35 www.worldbankwatch.org - .