12 January 2006
The report reviews the World Bank Group's progress in implementating the Extractive Industries Review since October 2004.
On December 8, 2005 the World Bank Executive Board discussed the World Bank Group’s report: “Implementation of the Management Response to the Extractive Industries Review”. The report claims that there have been improvements in the World Bank Group’s performance since October 2004, and highlights successes in governance, broad community support, revenue transparency, and project monitoring. Read the report through the World Bank website.
BIC prepared and distributed a memo to several Executive Director offices that detailed concerns and questions regarding the report, including inter alia: lack of effective consideration of governance; the IFC's failure to require investors to disclose project impacts; an over-reliance on investor’s self-assessment of poverty impacts; and an apparent lack of “broad community support” for several EI projects.