The World Bank on Thursday revamped lending rules meant to safeguard against human-rights abuses, though some critics say the guidelines still leave the most vulnerable without sufficient protections.
The development institution began the overhaul of the rules four years ago amid several lending scandals and after a scathing internal review found major failures in the oversight of bank-funded land resettlements.
“These new safeguards will build into our projects updated and improved protections for the most vulnerable people in the world and our environment,” said World Bank President Jim Yong Kim.
Mr. Kim said the rules were a carefully crafted compromise. The bank needs to walk a fine line between trying to protect the poor from abuses by borrowing governments and ensuring it doesn’t lose demand for its loans as it increasingly competes with other lenders around the world, he said.
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