International Finance Corporation Review
The International Finance Corporation (IFC), the private lending arm of the World Bank, is in the process of revising its social, environmental, and disclosure policies. These policies are currently the de facto international standards for export credit agencies, the Equator Principle banks, and the IFC - touching upon nearly three quarters of all international public and private project finance. The new Performance Standards are better integrated than the IFC's predecessor, the safeguards, but groups have individually challenged them on a number of fronts.

SEP 28 2004
 
Mr. John Mihevc Chair
Halifax Initiative Coalition
104-153 Chapel Street
Ottawa, Ontario
KIN 1H5

Dear Mr. Mihevc:

Thank you for your letter in which you raised the issues of International Development Association (IDA) governance, debt relief and the independent review of the World Bank's role in extractive industries. With respect to the latter issue, I understand that my officials have been corresponding with the Halifax Initiative on your concerns.

Submitted to Department of Finance and CIDA before World Bank discussions at Fall 2003 meetings on Enhancing Voice an

October 27, 2003