Families in small island nations already struggling with poverty and environmental destruction could face even greater hardship if the World Bank pushes ahead with its private-public partnership approach without fully understanding the consequences.
This has been highlighted by University of Fiji Vice Chancellor Professor Shaista Shameem during a consultation with the World Bank on its 'Rethinking the Approach to World Bank Group Country Engagement.'
She says while these partnerships may boost economic growth, they do not automatically solve deep-rooted issues like poverty, inequality and gender disparity.
She further says in the Pacific and wider Asia-Pacific region, some private sector investments—particularly in extractive industries are directly responsible for the climate crisis that is already displacing communities and destroying livelihoods.
She warns that encouraging more partnerships with such entities, could lead to even greater harm.
Professor Shameem says government fails to properly monitor the effects of private investments.
She says that if the World Bank promotes these partnerships without strong oversight, it could end up worsening poverty, increasing displacement and deepening social inequalities rather than improving lives.
She says the World Bank’s ‘rethink strategy’ needs urgent reconsideration.
She adds that if it does not take real-world impacts into account, the Bank will be throwing good money after bad in a region that can no longer afford wasted efforts.
She is calling on international organizations to ensure their interventions truly help people rather than adding to the challenges they already face.
