Activists call for boycott of World Bank bonds, end to its oil deals

ASHINGTON, APRIL 11: Anti-world Bank activists on Monday launched two campaigns targeting the institution, calling for a boycott of its commercial bonds and for an end to its support for oil, gas and mining projects. Organizers accused the Bank of promoting projects that harm the poor, reduce access to public services and increase unemployment. They charged that large dam projects funded by the Bank had forced 10 million people off their lands in the past 50 years.

Even before the official launch of the campaign, according to organizers, investment firms such as Trillium Assets Management of Boston and Progressive Assets Management of New York have pledged not to buy World Bank bonds. In addition, the city of Berkeley, California and a branch of the Communications Workers of America have passed resolutions against the future purchases of such instruments.