On Monday, October 5, the International Finance Corporation (IFC) launched the first of several civil society consultations regarding the review and update of their Policy and Performance Standards on Social and Environmental Sustainability during the World Bank/IMF Annual Meetings in Istanbul. These standards govern how communities and the environment are protected during project implementation and stipulate what information is publicly available for IFC-financed projects. The IFC policy's influence extends beyond the organization itself as the Performance Standards formed the basis for the Equator Principles, which currently guide over 70% of project finance in emerging markets. The consultation provided an important platform for civil society to highlight on-going concerns within the IFC's policies and suggest areas where these safeguard policies can be strengthened. Full Story...

Posted by claire at October 28, 2009 12:07 PM