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In the past three years , Abdoulaye Wade , Senegal ’ s first democratically elected president , has installed tough new regulatory procedures to stomp out corruption in Senegalese corporations , invited the World Bank to help oversee the privatization of his nation ’ s communications industry , and created a government agency to help attract foreign investment . Civil society groups have criticised the World Bank and IMF for subverting the right to development , violating human rights , undermining national sovereignty and intensifying poverty in a statement issued in conjunction with the World Bank and IMF annual meetings this year . The central reason for the delay has been the World Bank 's drive for bureaucratic self-preservation . This reevaluation , in turn , had led the World Bank to incorporate environmental criteria into its funding process and to carry out a thorough shakeup of its environmental monitoring procedures .