The Egyptian Society for Collective Rights organized a workshop entitled “Financing Institutions and Their Role in Development”, in Beni Suef Governorate, in cooperation with the Egyptian Center for Civil and Legislative Reform, on April 1 and 2.
The workshop dealt with several topics, the most important of which is the concept of the international financial institutions, the date of their inception, the development of their performance in loans and the policies of these institutions.
The workshop reviewed the disadvantages of international financial institutions and their impact on the performance of economic governments, and the package of austerity policies taken by the borrowing governments of these banks.
The researcher, Abdul Mawla Ismail, Chairman of the Egyptian Society for Collective Rights, presented the first day of the workshop, the concept of financial institutions, and presented some practices resulting from World Bank loans, especially to workers who are involved in any of the projects financed by the bank. One of the projects, such as the people of Alexandria next to the Titan steel factory financed by the bank, as well as the people living next to the same factory in Beni Suef governorate, are infected with chest diseases due to pollution caused by the industry, forgetting the bank to impose policies on the borrower to ensure not contaminating The environment and not harming parents and workers.
Ismail also presented some examples of projects of the Islamic Development Bank, the European Investment Bank and the European Bank for Reconstruction and Development. Ismail also presented the role of the International Monetary Fund (IMF) in what it called “financial and economic reform” , And audience discussions began over what was presented.
On the second day of the workshop, researcher Mohamed Gabri, researcher at the Egyptian Association for Collective Rights presented the mechanisms of confronting the World Bank projects, how to form committees of the people of the region and making complaints to the bank, It is an independent body within the World Bank specialized in examining complaints against projects and how to deal with crises in projects. The participants’ discussions started about the escalation steps against the bank.
The trainers put up a committee that includes the people of Beni Suef and the workers of the Titan Cement factory in Beni Suef to confront the damage of the project and to think about the mechanisms of confronting this project and against the policies of the World Bank.