US Congress opposes World Bank plan to weaken its environmental & social protections; NGOs applaud

"US Congress opposes World Bank plan to weaken environmental and social protections, seeks transparency about “beneficial owners” of shell companies", 23 Dec 2015 After withering global criticism of the World Bank’s proposal to weaken longstanding environmental and social protections, or safeguards, the US Congress…instruct[ed] the US Treasury department to oppose any World Bank policy that provides less protection than the Bank’s current safeguard requirements…“Congressional action to prevent the World Bank’s efforts to weaken environmental and social safeguards is of the utmost importance for the rights of communities impacted by destructive projects,” said Stephanie Fried of the Ulu Foundation…“The fact that the US now requires ‘rigorous human rights due diligence’ at all multilateral financial institutions, including for projects likely to involve displacement of local communities, is of enormous importance to local communities impacted by international financial flows,” said Rio Ismail of Ecological Justice Indonesia…The bill also calls for the US to seek to require the International Finance Corporation and other multilateral institutions to publish the identities of the “beneficial owners” of private companies receiving public funds…