The International Finance Corporation (IFC) released for public comment today a revised draft of its Policy and Performance Standards on Social and Environmental Sustainability and its draft Policy on Disclosure of Information.
The release begins a 60-day window for the public to make final comments before the drafts undergo final revisions and go to the Board of Directors for consideration in January. The draft policies and related documents are available on line at the policy review web site: www.ifc.org/policyreview.
The Draft Sustainability Policy and Performance Standards and Draft Policy on Disclosure of Information are available in Arabic, Chinese, English, French, Spanish, Portuguese and Russian for a 60-day period.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /> Draft Guidance Notes, which provide helpful guidance to IFC clients (and staff) on the requirements of the Performance Standards, are also available in English. Translations into Arabic, Chinese, French, Spanish, Portuguese and Russian are expected soon.
The new draft Disclosure Policy clarifies and expands the responsibilities of IFC to disclose corporate information to the public. Public disclosure requirements for clients are found in the proposed the Performance Standards as an integral part of directives to engage in early and ongoing engagement with community that are affected by projects.
The International Finance Corporation (IFC), the private sector arm of the World Bank Group, promotes sustainable private sector investment in developing and transition countries. IFC finances private sector investments, mobilizes capital in the international financial markets, helps clients improve social and environmental sustainability, and provides technical assistance and advice to governments and businesses.
For more information, contact:
David Wofford
Tel: 202-473-6802
E-mail: [email protected]
