10 June 2004
A letter from the IFC notes that the IFC may move away from a “document-driven” policy to one that is based on transparency “principles”
Abstract: On May 19, 2004, Ms. Suellen Lazarus, a senior advisor for the International Finance Corporation (IFC), responded to an NGO letter (See below) which expressed concern with the IFC’s Disclosure Policy Review Process. The IFC letter aimed to clarify the institution’s approach to the disclosure policy review. Among other things, it states that the IFC expects to:
- Release the Disclosure Policy Approach Paper at least 30 days prior to the first regional consultation.
- Conduct 5 regional consultations on the Approach Paper.
- Post all external comments received regarding the review.
- Translate the Approach Paper into the “main language(s) of the people participating in each regional consultation.”
- Provide simultaneous interpretation during the consultations.
- Disclose the final draft of the policy for public comment before it goes to the Board.
The letter also explains that the IFC may move away from the traditional “document-driven” policy to one that is more based on transparency “principles.” In this manner, the IFC hopes to be able to better “accommodate changes in internal systems” and to address “concerns about materiality and accessibility.”
To see the entire IFC letter and the original NGO letter, click the links below
For more information on the disclosure policy review process, see