April 18th, 2014
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Humans can survive weeks without food, but only days without water — in some conditions, only hours. It may sound clichéd, but it’s no hyperbole: Water is life. So what happens when private companies control the spigot? Evidence from water privatization projects around the world paints a pretty clear picture — public health is at stake.
In the run-up to its annual spring meeting this month, the World Bank Group, which offers loans, advice and other resources to developing countries, held four days of dialogues in Washington, D.C. Civil society groups from around the world and World Bank Group staff convened to discuss many topics. Water was high on the list.
It’s hard to think of a more important topic. We face a global water crisis, made worse by the warming temperatures of climate change. A quarter of the world’s people don’t have sufficient access to clean drinking water, and more people die every year from waterborne illnesses — such as cholera and typhoid fever — than from all forms of violence, including war, combined. Every hour, the United Nations estimates, 240 babies die from unsafe water.
The World Bank Group pushes privatization as a key solution to the water crisis. It is the largest funder of water management in the developing world, with loans and financing channeled through the group’s International Finance Corporation (IFC). Since the 1980s, the IFC has been promoting these water projects as part of a broader set of privatization policies, with loans and financing tied to enacting austerity measures designed to shrink the state, from the telecom industry to water utilities.
http://america.aljazeera.com/opinions/2014/4/water-managementprivatizationworldbankgroupifc.html
Read more at http://investmentwatchblog.com/world-bank-wants-water-privatized-despite-risks/#elJmhors1Saa2gA5.99