IFI's Climat, Finance and Social Spending

Climate finance has been a cooptation tool in the hands of neoliberal multilateralism whereas, it could be turned into an opportunity to: i) redistribute financial resources within and between countries, and ii) raise government revenues to finance public and social spending. In other terms, it can enhance development effectiveness if rather used in line with the good principles and practices of development financing. This session discusses how international financial institutions (IFIs), especially the World Bank Group (WBG) and the International Monetary Fund (IMF), have been preventing climate debt from being an opportunity to reduce both inter and intra-country inequality as well as finance public/social services. The session also revolves around the waves of activism against this de-facto situation, focusing on the demands and grievances expressed therein, and tapping into the potential that these movements have in making an actual change. Finally, the session aims to propose feasible solutions for environmental and socio-economic justice, as part of larger and incremental shifts in the economic and development paradigms upheld by IFIs.

Speakers:

. Wael Gamal (EIPR) : to speak on the impact of neoliberalism and multilateralism (including the role of IFIs), how they define the global and regional order, and the link between environmental justice and social justice.

. Farah Al Shami (ARI): to speak on climate debt and the role of the IMF

. Suzan Nada (labor legal activist, MENAFEM Movement): to speak about WBG investments and how development money can be invested elsewhere and in ecologically friendly projects.

. Imene Cherif (FES-MENA): to speak on social movements/environmental activism.

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(En <> Ar interpretation will be available)