The World Bank’s private sector arm, the International Finance Corporation, is conducting a review of its 1998 Policy on Disclosure of Information. A two-week e-discussion took place in May. A coalition of 26 NGOs sent a letter to the IFC with a series of recommendations on the review process. Five regional consultations are scheduled for August to December, and the IFC has promised to release an approach paper at least 30 days before the first consultation. The final policy is due to go to the Board in early 2005.
World Bank & IMF in the news
EarthRights International examines how the Jam v. IFC case has helped to shift the landscape of accountability for international financial institutions by successfully challenging their claim to “absolute” immunity in US courts, potentially opening IFC up to further legal challenges in future.