Major development banks are funding logging, mining and infrastructure projects that are having enormous impacts on nature. Here, forests are being razed along a newly constructed road in central Amazonia.
Big new investors such as the Asian Infrastructure Development Bank are key players in a worldwide infrastructure, and that could be bad news for the environment.
Credit rating agencies often elicit criticism when they downgrade countries.
Credit rating agencies have come in for a lot of flack. But the bottom line is that to attract investors with deep pockets countries can't avoid having a credit rating. And a good one at that.
Viana, near Luanda, Angola. China has played a major role in funding infrastructure projects in Africa but the deficit remains huge.
Since time immemorial, huge infrastructure projects have been financed with funds from the capital markets. Africa should not rely on development finance institutions.