Granting its largest loan ever for Brazil, the World Bank this month extended a US$1.3 billion credit to the country with the express objective of making environmental considerations a part of development initiatives. Called the “First Programmatic Development Policy Loan for Sustainable Environmental Management,” the credit would on paper seem a welcome sight for environmental advocates. But that hasn’t been the reality. Green groups and social-rights organizations have panned the loan, questioning the seriousness of bringing sustainability to large-scale dam construction and other projects that by definition damage the environment. The World Bank said in a written statement that the credit will “integrate sustainability concerns in the development agenda of key sectors such as forest management, water and renewable energy.... and will... [Log in to read more]