This meeting between CSOs and IFC representatives on the World Bank’s implementation of its management response to the extractive industries review (EIR) was held as a follow-up to the one held at the World Bank spring meetings in April (see below).
IFC Staff present: Rashad Kaldany, Director of the Oil, Gas and Minerals (OGM) department; Clive Armstrong OGM; Hannfried von Hindenburg, Communications Department; Somit Varma, OGM; Omar Chaudry, OGM;Ted Pollett, Environment & Social Development Department (ESSD); Fabio Pittaluga, ESSD; Patty Miller, ESSD; Amar Inamdar, Compliance Advisor Ombudsman’s office.
EI Advisory Group
- NGO expressed concern regarding the purpose of the EI advisory group given that its proposed agenda does not appear to address implementation of the EIR (see attached agenda below). Kaldany clarified that the first agenda item would be for the group to discuss its purpose. Terms of reference for the advisory group are available on the Bank’s EIR webpage (see below).
- In response to questions on transparency of the advisory group, Kaladny stated that a summary of the group meeting will be publicly disclosed provided that no advisors object.
- The IFC is still seeking one more CSO representative for the group, specifically with a background on indigenous peoples.
World Bank EIR Implementation Progress Report
This is scheduled to go to the board in late December. A formal board discussion is not planned and will only happen upon board request. The report will be publicly disclosed only after board approval of the final document. Kaldany agreed to consider other options for obtaining CSO input on the report before the Board review. The report will represent the IFC’s view of their performance on EIR implementation. There are no Bank evaluation departments involved.
there is no IFC renewable energy target
The IFC poverty indicators template has been amended to reflect consideration of potential negative impacts of EI projects (as requested by NGOs in the previous IFC EIR meeting). The development and poverty indicators template can be found on the World Bank Extractive Industry review web page (see below). Poverty impact tracking and base-line analysis is still only voluntary for clients.
The specific set of indicators applied will vary from project to project depending on the size and estimated development impact of the project. For individual projects, the primary responsibility within IFC for considering appropriate poverty impacts lies with the investment officer, not a poverty specialist.
- Kaldany admitted that the IFC needs to improve its systematic handling of governance issues. He expressed interest in continued dialogue and suggested scheduling a half-day meeting for a focused discussion with CSOs.
- Kaldany stated that governance issues can and do impact whether or not the IFC gets involved in a country, but there is no trigger or threshold level used to base this judgment.
- World Bank plans to make CPIA ratings public soon.
- Regarding security issues, the IFC provides a conflict zone guide to all investment officers, which is not publicly disclosed. On revenue transparency: Kaldany stated that so far there has been client commitment to revenue transparency for all approved projects, even though a 2-year window was allowed for complying with this recommendation.
- There is no IFC renewable energy target. The EIR renewable energy portfolio target only applies to the World Bank (i.e., IDA and IBRD).
- The IFC has a new manager to focus on renewable energy, Morgan Landey. Kaldany suggested arranging a follow-up meeting with Mr. Landey to discuss renewables.
- There is a new World Bank renewable energy website: Renewable Energy for Development (see below)