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Outsourcing development: lifting the veil on the World Bank Group’s lending through financial intermediaries
In 1999, a massive cyclone ravaged India’s Orissa state. Rabindra Majhi, a small-hold farmer and father of two, lost everything. “Our home and crops were destroyed. We were starving,” Majhi said.Destitute and fraught, Majhi and 2,500 of his fellow villagers suddenly received an offer. The Indian Oil Corporation, a large state-run energy conglomerate, would buy their land, at below-market rates, in order to build a refinery. The company also promised them jobs as part of the deal. Reluctantly, Majhi accepted the offer. “We didn’t really have a choice. We were desperate,” he said. He used the modest proceeds from the sale to build a new house. When the refinery became operational, he figured, he would be able to make a living again and get back on his feet.
Additional Information
| Field | Value |
|---|---|
| Last updated | May 17, 2017 |
| Created | May 17, 2017 |
| Format | |
| License | CC-BY-3.0-IGO |
| Name | Outsourcing development: lifting the veil on the World Bank Group’s lending through financial intermediaries |
| Description |
In 1999, a massive cyclone ravaged India’s Orissa state. Rabindra Majhi, a small-hold farmer and father of two, lost everything. “Our home and crops were destroyed. We were starving,” Majhi said.Destitute and fraught, Majhi and 2,500 of his fellow villagers suddenly received an offer. The Indian Oil Corporation, a large state-run energy conglomerate, would buy their land, at below-market rates, in order to build a refinery. The company also promised them jobs as part of the deal. Reluctantly, Majhi accepted the offer. “We didn’t really have a choice. We were desperate,” he said. He used the modest proceeds from the sale to build a new house. When the refinery became operational, he figured, he would be able to make a living again and get back on his feet. |
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