International Finance Corporation | Bank Information Center: Monitoring the projects and policies of the World Bank, IMF and other international financial institutions


bicusa.org/ifc Home InstitutionsIFC International Finance Corporation Overview Structure Lending Policies Getting Info Projects Updates Resources Contacts RSS Update \| 9 May 2008 Weekly roundup: IFIs in the news This is a new feature from BIC! This "Weekly Roundup" is a compilation of select news articles, blogs or other media concerning the international financial institutions from the past week. Read more Update \| 2 May 2008 Weekly roundup: IFIs in the news This is a new feature from BIC! This "Weekly Roundup" is a compliation of select news articles, blogs or other media concerning the international financial institutions from the past week. Read more Press Release \| 30 April 2008 IFC out of compliance at Karachaganak oil field In a recently released audit report, the International Finance Corporation’s (IFC) Office of Compliance, Advisor/Ombudsman (CAO) has found that the IFC is out of compliance with safety standards for toxic emissions at the giant Karachaganak Oil and Gas Condensate Field in western Kazakhstan. Read more Update \| 15 April 2008 IFC provides information on payments from extractive industry projects In response to requests from the Bank Information Center (BIC) and other civil society organizations, the International Finance Corporation (IFC) has begun providing links to where IFC extractive industry clients disclose their payments to host governments. Read more Update \| 15 April 2008 Projecto Conjunto Bretton Woods Actualizacion #60 Lea la edición especial de la Actualización de Bretton Woods, coproducida por Afrodad, Bank Information Center, Choike y Eurodad. Esta edición esta disponible también en ingles. Read more Update \| 9 April 2008 Bank plans more infrastructure, mining and forestry projects in DRC The new Country Assistance Strategy for the Democratic Republic of Congo, which the Bank has kept secret, suggests a continued emphasis on the natural resource sectors as sources of growth going forward and predicts at least $1.4 billion in new lending over the next three years. Read more Update \| 8 April 2008 IFC challenges highlighted in the Middle East; "Doing Business" indicators come under fire BIC's MENA Program Manager, Amy Ekdawi, writes about the IFC's rapidly increasing investment in the region, and the contradictions of its pledge to reduce poverty while undermining labor standards. Read more Update \| 7 April 2008 Joint Bretton Woods Project Update # 60 Read the special Spring Meetings edition of the Bretton Woods Update, co-produced with Afrodad, Bank Information Center, Choike, and Eurodad. The issue is also available in Spanish. Read more Update \| 13 March 2008 IFC takes the lead on Yemen’s tax reform While IFC meeting with government and private sector is expected to lower corporate taxes, World Bank and IMF conditions will double the General Sales Tax in 2009. Read more Update \| 7 March 2008 IFC advises Yemeni government on Public-Private Partnerships (PPP) in priority sectors Public-Private Partnerships (PPP) presents investment opportunities that could hurt the poor, who have already been hit by increasing food prices. Read more Update \| 26 February 2008 Analysis of implementation of revenue transparency commitments of IFC and EBRD loans Read the preliminary assessment of the implementation of project level revenue transparency commitments for the extractive industry projects financed by the International Finance Corporation (IFC) and the European Bank for Reconstruction and Development (EBRD). Read more Update \| 30 January 2008 Civil Society Guide to IFI Policy Reviews Read more Update \| 18 January 2008 IFC to push private health care in Africa Concerns abound about vague promises to exempt the impoverished from payment, while debate continues over whether public institutions should allocate resources to private providers at the expense of the public health sector. Read more Update \| 17 January 2008 World Bank, EIB to release funds for Bujagali Dam as investigations into safeguard violations continue Construction of the dam proceeds despite an ongoing investigation into claims presented by civil society groups that the project violates environmental and social standards of both the World Bank and the African Development Bank (AfDB). Read more Update \| 14 December 2007 Reto a los préstamos para cazar el proyecto de petróleo del Perú Una delegación de alto nivel de líderes indígenas, de la sociedad civil y parlamentarios de Perú se encuentran en Washington DC para tratar de incidir frente al voto del BID sobre préstamos públicos para la planta de licuefacción de gas natural de Camisea. La delegación argumenta que al aprobar el proyecto PERU LNG, tanto el BID, como la CFI y el Banco Ex- Im estarían violando sus propias salvaguardias sociales y ambientales. Read more Update \| 13 December 2007 Loans to Hunt Oil’s Peruvian fossil fuel project challenged A high level delegation of indigenous, civil society and Parliamentarian leaders from Peru are in Washington, DC to lobby against the expected vote on public loans for the Peru LNG natural gas liquification plant. The delegation argues that by approving the project, the Inter-American Development Bank (IDB) and the Ex-Im Bank and the International Finance Corporation (IFC), would breach their own social and environmental safeguards. Read more Update \| 11 December 2007 Press highlights World Bank blunders in Congo's forest Last week, the Financial Times published an article on the World Bank's errors in its forest operations in the Democratic Republic of Congo (DRC) and allegations of support for illegal logging in the country by the International Finance Corporation (IFC). Just two days later, the IFC announced it would sell its stake in Olam International Ltd., the Singaporean commodity trading company accused of "environmental malpractice" in the world's second largest rainforest. As those gathered in Bali for the United Nations conference on climate change discuss the importance of forests to the future health of the planet, the Bank's missteps in Congo deserve a closer look. Read more Update \| 4 December 2007 BIC's MENA program organizes first workshop in Yemen The workshop introduced BIC's work to Yemeni media and civil society organizations, and focused on the activities of the international financial institutions in the country. Read more Update \| 14 November 2007 Government panel to recommend cancellation or renegotiation of over 60 mining contracts in DRC Leaked report lists IFC-sponsored Kalukundi concession among contracts recommended for renegotiation. Read more Update \| 14 November 2007 IFC maintains “clear development benefits” result from its African mining investments The claim runs contrary to a recent report which found that over 40 percent of IFC projects implemented between 1996 and 2006 failed to deliver positive development results. Read more Press Release \| 12 November 2007 Press release: Taman tries the taste of oil Guilt for the environmental catastrophe in the Strait of Kerch lies with the authorities in Russia and Ukraine, as well as with the companies transporting dangerous cargo Read more Update \| 7 November 2007 NGO coalition calls for release of report on mining contracts in the DRC A coalition of non-governmental organisations from Europe, North America, and the Democratic Republic of Congo (DRC) launched an international appeal today demanding the publication of the final report of the ministerial commission on the review of mining contracts without delay. Read more Update \| 18 October 2007 In bid to spur increased pledges from donor governments, IBRD & IFC commit $3.5 billion of their profits to IDA Questions remain as to whether the IFC will use its role as a major IDA donor to deflect criticism of its own investments. Read more Update \| 4 October 2007 IFC to step up operations in "high risk" countries Last week, International Finance Corporation (IFC) chief Lars Thunell told Reuters that the IFC is "trying to do more in high-risk countries," adding that it is investing more in post-conflict countries such as the Democratic Republic of Congo, Liberia, Lebanon and Sierra Leone. Read more Update \| 27 September 2007 World Bank applauds Egypt's pro-investment reforms as workers go on strike Egypt tops list of reformers in World Bank's 2008 "Doing Business" report. Read more Update \| 24 September 2007 IFC continues push for Africa’s minerals Proposed copper-cobalt and gold projects re-enforce civil society's misgivings about the International Finance Corporation's commitment to environmental and social sustainability. Read more Update \| 20 September 2007 UN adopts Declaration on the Rights of Indigenous Peoples On September 13th, after over 20 years of negotiations, the United Nations General Assembly finally adopted the Declaration on the Rights of Indigenous Peoples. The international declaration sets a higher standard for international financial institutions (IFIs) to ensure safeguards and strengthen their policies on indigenous peoples. Read more Update \| 19 September 2007 Balance shifts to private sector in Bank Group support for MENA In 2007, IFC financing in the Middle East and North Africa region exceeded lending from IDA and IBRD combined. As the Bank Group heralds high growth in MENA and pumps money to the private sector, equity and employment challenges loom large. Read more Update \| 6 September 2007 World Bank launches market-driven initiative to "light up" Africa The Bank's new "Lighting Africa" program, which was launched this week, seeks to catalyze business interest in developing innovative ways to bring light to millions of Africans who are not connected to the electricity grid. While the attention to off-grid and non-fossil fuel based electricity supply in Africa is welcome, it remains questionable whether the private sector can meet the Bank's goal of delivering affordable lighting to 250 million people on the continent by 2030. Read more Press Release \| 6 September 2007 Groups urge World Bank to strengthen guidelines for controversial mining projects Major weaknesses found in IFC’s environmental, health standards Read more Update \| 27 August 2007 Bujagali dam continues to make headlines Although construction of the controversial hydropower project in Uganda began last week, debate continues over the dam's design, cost and impacts. A recent article in the Baltimore Sun provides details. Read more Update \| 23 August 2007 NPR covers Bujagali dam controversy Last week, National Public Radio's Morning Edition broadcast a story on the debate surrounding the World Bank-financed Bujagali dam in Uganda. Read more Update \| 23 August 2007 Prospect of profits is making more MENA governments see 'green', says World Bank A recent article by the World Bank applauds governments in MENA for increasing investment in environmental protection. While the World Bank is encouraging MENA countries to decrease their carbon emissions, it continues to finance extractive industry projects in the region. This apparent contradiction is just one of several reasons to take a closer look at the Bank's recent coverage of the 'greening' of MENA. Read more Update \| 22 August 2007 Independent evaluation finds over 40% of IFC projects fail to deliver development results The Independent Evaluation Group (IEG) of the International Finance Corporation (IFC), found that 41% of the IFC projects studied had low development ratings. IFC performed particularly poorly in Africa and Asia, where only half of its projects had positive development outcomes. In Africa, the quality of IFC work was particularly poor, rated as “high” in only 45% of projects, as compared to 68% in other regions. Read more Update \| 1 August 2007 WB, IMF and AfDB-backed program to privatize Egyptian banks arouses controversy The Egyptian government is facing criticism from members of its parliament over plans to sell off the country’s publicly owned banks. The plan to privatize several national banks within the framework of an $8.7 billion financial sector reform program has the backing of the World Bank, the International Monetary Fund, the African Development Bank and US Agency for International Development. Read more Update \| 16 July 2007 IPS highlights IFC's role in MENA region A critical article from the Inter Press Service draws on research conducted by BIC's new MENA Program. Read more Update \| 9 July 2007 IFC investment in MENA region reaches record high The Middle East & North Africa region has become the IFC's fastest-growing portfolio, surpassing $1 billion in new investments for the first time last year. Read more Update \| 5 July 2007 IFC investment in Africa tops $1 billion Plans to scale up investments in mining, large infrastructure, and private education raises concerns among civil society groups skeptical of the IFC's commitment to development. Read more Update \| 18 June 2007 IFC and China Exim to co-finance investments in Africa Many question banks' rhetoric of "support[ing] environmentally and socially sustainable investment" on the continent, citing dubious track records. Read more Update \| 14 May 2007 Ghanaian CSOs call for greater control over mining companies Local groups argue that the controversial IFC-sponsored Ahafo gold mine seriously threatens the environment and livelihoods. Read more Update \| 27 April 2007 World Bank gives green light to controversial Bujagali Dam in Uganda Bank approves $360 million financing package for dam on Victoria Nile despite concerns about climate change, environmental impacts and cost. Read more Update \| 26 April 2007 Civil society responds to WB approval of financing for Bujagali In a press release following yesterday's decision, NGOs accuse the Bank of ignoring inconvenient truths about climate change, hydrology and fisheries. They warn the project may threaten Lake Victoria and leave the majority of Ugandans in the dark. Read more Update \| 18 April 2007 World Bank has split personality on global warming The World Bank Group's pledge to reduce greenhouse gases rings hollow as the organization increases assistance for the development of fossil fuels. Read more Update \| 12 April 2007 CSOs register complaint with World Bank Inspection Panel over proposed Bujagali hydroelectric project Ugandan groups highlight risks of project to hydrology of Lake Victoria, sustainability of the energy production, lack of comprehensive needs and options assessment, anticipated impacts on local communities Read more Update \| 23 February 2007 MIGA reviewing Social, Environmental and Disclosure Policies The World Bank's Multilateral Investment Guarantee Agency (MIGA) has posted draft policies for public comment until April 27, 2007. Read more Update \| 15 February 2007 Bujagali Dam fails to meet international standards A report released last week documents the failure of the proposed Bujagali Dam in Uganda to fully comply with the international best practices set by the World Commission on Dams (WCD) Read more Update \| 13 February 2007 World Bank's "model" project in Chad beset by persistent problems The controversial Chad-Cameroon pipeline is again in the news after an off-shore oil spill occurred near the town of Kribi in coastal Cameroon. Meanwhile in southern Chad, where ExxonMobil and its consortium partners extract nearly 200,000 barrels of “black gold” per day, the security situation and living conditions are deteriorating. Read more Update \| 12 February 2007 BIC Comments on IFC's Compliance Advisor Ombudsman's Revised Draft Operational Guidelines The Compliance Advisor Ombudsman(CAO), the independent recourse mechanism in charge of enhancing the development impact and sustainability of the IFC and MIGA, opened the floor for comments on the its Revised Draft Operational Guidelines at the end of 2006. Read more Update \| 9 February 2007 Mining companies turn to UN and World Bank in face of Chinese threat An article in The Times described a secret high-level meeting of the heads of several Western mining companies and UN and World Bank officials concerning competition from Chinese investors in Africa’s mining sector Read more Update \| 2 February 2007 Comments on the World Bank Group's Extractive Industries Review Implementation Report The World Bank recently released its annual report on Bank Management’s progress in implementing the recommendations laid out in the 2003 Extractive Industries Review (EIR). Read more Update \| 22 December 2006 IFC and EIB post new documents on Uganda dam Both the International Finance Corporation (IFC) and European Investment Bank (EIB) disclosed project documents for the controversial Bujagali hydroelectric dam this week; IFC board date set for April 2007 Read more Update \| 18 December 2006 IFC increasing investment activity A recent article in the Financial Times highlights the International Finance Corporation's (IFC) increasing level of activity in the developing world, noting that the institution has "about 50 per cent more business under its belt in the 12 months to June 30 than in the same period the previous year." Read more Update \| 21 November 2006 World Bank to review conditions attached to loans The World Bank Board of Directors will discuss a new confidential report titled “Good Practice Principles for the Application of Conditionality: A Progress Report,” on December 5, 2006. Read more Update \| 21 November 2006 World Bank approves funding for controversial Uruguay pulp mill The World Bank approved $170 million in International Finance Corporation (IFC) financing and $200 million in Multilateral Investment Guarantee Agency (MIGA) support for the controversial Botnia pulp mill in Uruguay on Tuesday. Read more Update \| 16 November 2006 World Bank anti-corruption strategy now open for public comment Comments on the controversial strategy will be accepted for an unspecified amount of time. Read more Update \| 13 November 2006 Where Oil flows...Debt grows BIC and partners challenge World Bank and US Government controversial support of Big Oil in November 14 Financial Times advertisement. Read more Update \| 8 November 2006 World Bank's new Sustainable Development Network hosts SDN Week 2006 Seminars and training sessions will center on the theme of "Better Governance and Improved Institutions". Some of the events open to participants this week and next include panels and workshops on clean energy, climate change, the IFC performance standards and disclosure policy, and on country systems. Read more Update \| 21 October 2006 Wolfowitz's anti-corruption plan receives lukewarm reception at Annual Meetings The World Bank's controversial Governance and Anti-Corruption Framework was the subject of intense debate prior to the Annual Meetings, raising important questions about the appropriate role for the Bank in fighting corruption, and the need for the institution to clean up its own act before dictating strategies to others. Read more Update \| 18 September 2006 "Prove it": Groups challenge IFC on mining investments On the "golden" 50th anniversary of the International Finance Corporation (IFC), civil society organizations have released a briefing paper questioning the institution's investment in gold mining and calling for the IFC to report its development impacts on a project-by-project basis. Tarnished Gold: Mining and the unmet promise of development September 2006 (Acrobat pdf 376 KB) Read more Update \| 10 July 2006 Private financial sector watchdog comments on new version of the Equator Principles Read more Update \| 7 July 2006 Forty-one private banks revise social and environmental standards The banks known as the Equator Principles Financial Institutions revised standards intended to ensure that projects financed by the institutions are socially and environmentally responsible. The standards are based on the International Finance Corporation's safeguard policies. Read more Update \| 4 May 2006 Official Statements made by Development Committee members at the 2006 World Bank/IMF Spring Meetings The Development Committee met during last month's IMF/World Bank 2006 Spring Meetings. Agenda included discussion of clean energy and development, and the Global Monitoring Report 2006: Strengthening Mutual Accountability - Aid, Trade and Governance. Read more Update \| 4 April 2006 International Finance Corporation announces new Vice-Presidential appointments On March 30 IFC Executive Vice President Lars Thunell announced the reorganization of IFC senior management along regional and industry lines, as well as several new appointments. The IFC is the private sector arm of the World Bank Group. Read more Update \| 4 April 2006 BIC releases Extractive Industries Review Update #6, April 2006 Read more Update \| 31 March 2006 CAO Finds Lack of Compliance by IFC in Uruguayan Paper Mills In its recently posted audit, the Compliance Advisor Ombudsman (CAO) found several compliance issues regarding the International Financial Corporation's environmental and social due diligence in considering the Orion-Celulosas de M'Bopicua (CMB) paper mill projects in Uruguay. Read more Update \| 15 March 2006 CAO Posts Comments on IFC Safeguards; Private Sector Review of Equator Principles Begins The Compliance-Advisor Ombudsman (CAO) released last week its comments on the January 25th drafts of the International Finance Corporation’s (IFC) Safeguards policies, which the IFC approved February 21, 2006. Following the IFC’s lead, a collection of private sector financial institutions intends to complete a review of their guiding policies on social and environmental issues, the Equator Principles. Read more Update \| 13 March 2006 Civil society calls on IFC to address outstanding social and environmental issues Following the approval of IFC financing for Newmont's Ahafo mine in Ghana, the Bank Information Center, Oxfam-America, FoodFirst Information Action Network, Earthworks, WACAM, and ABRANDH sent a letter to IFC repeating the call for urgent action to be taken on unresolved problems related to the social and environmental impacts of the mine. Read more Update \| 23 February 2006 Editorials on IFC's new standards and Wolfowitz's anti-corruption initiatives Following a flurry of earlier articles and responses in prominent newspapers, Sebastian Mallaby and an anonymous author assess Wolfowitz's anti-corruption strategy and the IFC's plans to update environmental and social standards. Read more Press Release \| 21 February 2006 Press Release: IFC's New Standards - A Risky Step for People and Planet Warning that the International Finance Corporation’s overhaul of its social and environmental standards relies too heavily on promises of good intentions, international civil society organizations have called the IFC’s new approach a risky experiment that could leave the people and environments affected by its projects more vulnerable than they were before. Also available in Spanish Read more Update \| 7 February 2006 BIC and Environmental Defense release report assessing the World Bank Group's implementation of its governance commitments following the Extractive Industries Review. The review reveals that the World Bank Group has done little to effectively and transparently factor governance considerations into the selection and sequencing of its support for extractive industry (EI) projects and strategies. Read more Update \| 30 January 2006 World Bank urged to postpone loan for controversial gold mine in Ghana A group of Ghanaian and international organizations is urging the World Bank to postpone funding for a new gold mining project in Ghana until the Bank addresses the project's human rights and environmental problems. Read more Update \| 2 December 2005 BIC Submits Comments on International Finance Corporation Draft Policies These comments address transparency and consultation concerns with the draft IFC Disclosure Policy, Social and Environmental Sustainability Policy and Performance Standards. Read more Update \| 4 November 2005 The IFC responds to the CAO’s critical report on the Marlin mine in Guatemala Affected communities ask to meet with World Bank President Paul Wolfowitz. Read more Update \| 31 October 2005 BIC's Executive Director responds to recent New York Times expose on mining Manish Bapna, BIC's Executive Director, highlighted the importance of strengthening the IFC's performance standards and creating binding social and environmental obligations for the mining industry in a recent letter to the New York Times. Read more Update \| 26 October 2005 EIR follow-up Workshop December 11-14 Coinciding with the proposed time for release of WB Progress Report on EIR implementation, on December 11-14, 2005 CEE Bankwatch and BIC will host a workshop in Washington, DC to highlight WBG performance on the implementation of EIR recommendations. Read more Update \| 29 September 2005 IFC Releases New Drafts of Environmental, Social and Disclosure Policies for Public Comment The release begins a 60-day period in which civil society may make comments before the policies receive final revisions and are sent to the Board for approval in late January. Read more Update \| 15 September 2005 Lee un Resumen y Análisis del Reporte Oficial de la CAO que critica la Mina Marlin y la Corporación Financiera Internacional Lee un análisis y resumen de la evaluación del proyecto Mina Marlin por la CAO. Ve como critica a la CFI y la compañía Glamis Gold. Aprende sobre las diferencias entre la versión final del documento y el borrador. Read more Update \| 13 September 2005 Read a summary and analysis of the CAO report that criticizes World Bank involvement in the Marlin Mine in Guatemala. Read the Bank Information Center's review of the CAO report criticizing the IFC's role in the Marlin open pit goldmine project. Read more Update \| 12 September 2005 Wolfowitz Announces Appointment of Lars H. Thunell as Executive Vice President of the International Finance Corporation. Read more Update \| 12 September 2005 IFC considers financing for Newmont gold mine in Ghana On August 29, the International Finance Corporation indicated its intent to provide $125 million in loans to Newmont Gold Corporation, the largest gold producer in the world, for its development of two mining sites in the Brong Ahafo region of Ghana. Prior to the public announcement about proposed IFC support for the mining activities, local community members and civil society organizations in Ghana had expressed concern about Newmont's operations, community relations and the lasting environmental impacts of the open-pit gold mine. Read more Update \| 3 August 2005 World Bank Country Directors in Sub-Saharan Africa Browse a list of current country directors (includes emails) for borrowing member countries of the World Bank in sub-Saharan Africa. Read more Update \| 6 July 2005 World Bank slow to enact Extractive Industries Review commitments 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. Read more Update \| 28 June 2005 New report scrutinizes lending through Financial Intermediaries Read more Update \| 14 June 2005 Civil Society Guide to IFI Policy Reviews now available Read more Update \| 14 June 2005 Civil Society Guide to IFI Policy Reviews The IFI Policy Review Web page is a recent addition to the BIC website! This page is updated regularly to allow you to keep track of consultation documents, important dates, civil society analyses and more. Read more Update \| 14 June 2005 La Corporación Financiera Internacional Read more Update \| 6 June 2005 World Bank evaluation criticizes IFC oversight of soy project in Brazil A new Compliance Advisor Ombudsman (CAO) audit calls for environmental reclassification and better oversight of the International Finance Corporation's (IFC) project. Read more Update \| 22 April 2005 Friends of the Earth International Presents the IFC with “Most Flawed Consultation Award” The International Finance Corporation (IFC) Safeguard Policy Review is the winner of the 2004 'Award for the Most Flawed Consultation Process' within the World Bank Group, civil society organizations announced. Read more Update \| 6 April 2005 BIC recommends stronger transparency standards for IFC BIC submits comments on the IFC's Disclosure Policy Framework calling for strengthened disclosure principles, procedures and constraints; increased institutional transparency; and increased investment-specific transparency. Read more Update \| 30 March 2005 BIC launches new Web page on Parliamentary Oversight of the IFIs Read more Update \| 23 March 2005 Glamis in Guatemala: A Project Alert on the Marlin Mine Read a report on the Marlin Mine and the effects of foreign investment in mining in Guatemala from the perspective of those impacted by the industry. Read more Update \| 22 March 2005 World Bank/IMF Spring Meetings 2005: Information for Civil Society Read more Update \| 22 March 2005 IFC holds consultations in Moscow on its environmental and social policies Read more Update \| 15 February 2005 "Chad's Oil: Miracle or Mirage?" BIC and CRS release report Feb 17th Read more Update \| 3 February 2005 Top Bank official calls for transparent process to select new WB president According to FT article, IFC head Peter Woicke claims a secretive deal between the US and Europe to replace James Wolfensohn would damage the credibility of his successor. Read more Update \| 24 January 2005 IFC revises timeline for public consultation of Social and Environmental Performance Standards and of the Disclosure Policy Read more Update \| 6 October 2004 26 NGOs decide not to participate in IFC’s Washington DC consultation In response to a rapid and substandard policy consultation process, 26 NGOs declined to participate in the International Finance Corporation’s (IFC) civil society meeting in Washington DC. Read more Update \| 16 September 2004 121 civil society members claim that IFC consultation process is “seriously flawed” Read more Update \| 16 September 2004 76 NGOs demand right to know about pollutants released from IFC projects A September 9 letter signed by 76 civil society and non-governmental organizations (NGOs) urges the IFC to protect communities that may be exposed to pollutants due to IFC-financed projects. Read more Update \| 7 September 2004 BIC Policy Update: Review of IFC social, environmental and disclosure policies This policy update introduces the ongoing policy reviews at the IFC, outlines the review process, and provides useful links to background documents. Read more Update \| 30 August 2004 Japanese NGO weighs in on consultation process of IFC safeguard and disclosure policies' revision The Japan Center for Sustainable Environment and Society (JACSES) sent a letter and report to the IFC raising concerns on the IFC's invitation-based consultation process and offering recommendations on how to expand civil society participation and ensure transparency. Read more Update \| 9 August 2004 IFC responds to NGO sign-on letter On July 6, 140 NGOs endorsed a letter to the IFC regarding the reviews of its environmental and social policies and standards. The IFC responds ... Read more Update \| 15 July 2004 140 NGOs call on IFC for clear rights, rules and responsibilities in policy reviews In a letter sent to the IFC, civil society groups are calling for a greater focus on human rights and transparency as the IFC begins to draft its safeguard and disclosure policy approach papers this month. Read more Update \| 10 June 2004 IFC responds to NGO concerns about disclosure policy review process 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” Read more Update \| 13 April 2004 IFC spearheading overhaul of Pollution Prevention and Abatement Handbook The IFC has released the Terms of Reference for the PPAH review, laying out a rough timeline for the two-year project and identifying key areas that need to be addressed. Read more Update \| 6 February 2004 Civil society groups launch independent website on Extractive Industries Review Read more Update \| 13 January 2004 Report issued on the public disclosure and consultation process in Azerbaijan CEE Bankwatch Network has released its report, "Azerbaijan-Georgia-Turkey pipeline systems: An evaluation of the public disclosure and consultation process." Read more Update \| 30 October 2003 Oil Union files corruption charges against the State Oil Company of Azerbaijan Read more Print this page Email this page		Search Institutions AfDB ADB Bank of the South EBRD IDB IFC IMF MIGA World Bank See also Democratic Republic of Congo Middle East and North Africa Азербайджан Казахстан Accountability at the IFC & MIGA Transparency at the IFC Stay Informed! Sign up for our e-newsletters. Sign up

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