The International Financial Corporation (IFC) is part of the World Bank Group, but unlike the International Development Association (IDA) and the International Bank for Reconstruction and Development (IBRD) which work with governments, the IFC makes direct loans to businesses investing in private enterprise in developing countries. Over half of IFC loan money goes to finance project in infrastructure, mining, chemicals/petrochemicals, cement and construction materials, manufacturing, and timber/pulp materials. Though IFC’s work is focused on promoting private sector investment in developing countries, its mission is to do so in order to reduce poverty and improve people’s lives.

IFC's Social and Environmental Policies
 
The IFC adopted its own set of environmental and social policies in 1998. These policies address information disclosure, environmental assessments, natural habitats, pest management, indigenous peoples, cultural property, involuntary resettlement, forestry, dam safety, protection of international waterways and child and forced labor. Borrowers are required to abide by these standards. For more information on these policies, please proceed to IFC’s website at: www.ifc.org/enviro.

Information Disclosure

At this time, public access to IFC project information is very limited. IFC information disclosure policy requires three documents be made publicly available: the Summary of Project Information (a summary of proposed projects), the Environmental Assessment, and the Environmental Review Summary. In addition, Category A and some Category B projects are required to have a Public Consultation and Disclosure Plan. You can access these documents at the World Bank Infoshop website: www.worldbank.org/

Citizen Accountability at IFC
 
IFC recently established its own accountability Mechanism, the Compliance Advisor Ombudsman (CAO).  Meg Taylor, the first CAO nominated for this position assumed the position in July of 1999 and is in the process of developing the operational procedures for this function.  These procedures are scheduled to be finalized at the end of April 2000.  Click here for more information on the mechanism, how it was established and CIEL's comments on the CAO draft procedures.