6 July 2005
More than 70 civil society organizations send a letter to the WB Executive Directors highlighting concerns about an increase in high-risk EI investment and the Bank’s lack of progress in implementing its EIR commitments.
In September 2004, World Bank Group Management responded to the EIR by proposing the adoption of several important reforms concerning Bank support for extractive industry projects. The proposed reform agenda represents a tangible outcome of the EIR - a process in which the Bank as well as civil society organizations invested considerable time and resources.
Civil society organizations are concerned about the Bank’s lack of progress in implementing its EIR commitments. These concerns are heightened by what appears to be a recent increase in high-risk extractive industry (EI) investments, including in countries and territories marked by political instability and conflict.
The following letter endorsed by more than 70 CSOs was sent to the World Bank Group Executive Directors emphasizing concerns regarding the Bank's lack of progress in implementing its EIR commitments in areas such as:
- Poverty Tracking
- Governance Indicators
- Broad Community Support
- Environmental Management and No-Go Zones
- Renewable Energy
- Revenue Transparency and
- Advisory Group