Transparency | Bank Information Center: Monitoring the projects and policies of the World Bank, IMF and other international financial institutions


bicusa.org/transparencybackground Transparency Overview Background Concerns Problem Projects Updates Resources Contacts RSS Update \| 11 March 2010 Lugar: No more money for development banks until reform The staff of Senator Richard Lugar released a report to the Committee on Foreign Relations calling for reform of the IFIs before Congress approves upcoming capital replenishment requests for the institutions. Read more Update \| 14 January 2010 Inspection Panel case plants seeds of cultural change at World Bank What was at first a seemingly simple and non-provocative Inspection Panel case, has now led the Bank to re-evaluate its relationship with civil society across the MENA region and develop an action plan for engagement. Nadia Daar of BIC's MENA program examines the importance of this development. Read more Press Clipping \| 14 December 2009 Amazon projects undercut Brazil's new green path Straddling one the Amazon's main tributaries and flanked by dense jungle, a construction pit the size of a small town bustles with bulldozers and nearly 10,000 workers blasting huge slabs of rock off the river bank. Read more Update \| 4 December 2009 Prince of Wales Rainforests Project Features Madeira River Dams Read more Press Clipping \| 18 November 2009 Bribery for Inambari exposed An investigation by the Brazilian daily Folha de Brasil revealed the involvement of ex-Minister of Mining and Energy Silas Rondeau in a bribery scandal favoring the Brazilian company Engevix for the construction of six hydroelectric centers in Peru at a cost of US$ 16 billion. Read more Press Release \| 3 November 2009 GTI applauds World Bank on improved disclosure policy, though significant weaknesses remain The Global Transparency Initiative (GTI) released its analysis of the World Bank’s new draft disclosure policy, Toward Greater Transparency Through Access to Information: The World Bank’s Disclosure Policy. GTI found that despite gains in access to information, significant policy weaknesses remain. Read more Press Clipping \| 8 October 2009 CIP accused of altering conclusions of Inambari forum Sociedad Civil por la Carretera Transoceánica (SOCIT) accused the College of Engineers of Peru (CIP) of altering the final conclusions of the Regional Forum “Construction of the Inambari Hydroelectric Station", organized and hosted by the college August 28 and 29. Read more Update \| 5 October 2009 World Bank releases new draft of disclosure policy. The new draft was completed based on public consultations in 33 member countries and online comments. Read more Update \| 2 October 2009 Open letter to Mr. Luis Alberto Moreno, President of IDB Civil Society outlines their concerns about socio-environmental impacts of the IIRSA project "Road Interconnection: Pucallpa-Cruzeiro do Sul" and demands that the IDB promote more transparency and public consultation in the IIRSA process. Read more Press Clipping \| 18 September 2009 Lula to ask for reform of the UN, IMF and World Bank at General Assembly President of Brazil, Luiz Inácio Lula da Silva, at the General Assembly of the United Nations, will ask for reform of the UN itself, as well as of the International Monetary Fund (IMF) and the World Bank, a government spokesperson said. Read more Update \| 17 September 2009 House Committee on Financial Services examines transparency at the World Bank The full committee hearing addressed the 2009 World Bank Disclosure Policy Review and the role of civil society participation in achieving successful development outcomes. BIC board member, Richard Bissell testified. Read more Update \| 17 September 2009 IDB begins consultation on Ninth Global Capital Increase Read more Update \| 8 September 2009 Press kit: House Committee on Financial Services hearing on access to information at the World Bank The full committee hearing addressed the 2009 World Bank Disclosure Policy Review and the role of civil society participation in achieving successful development outcomes. Read more Press Release \| 21 August 2009 Report seeks greater accountability in urban infrastructure projects Money for urban infrastructure in India is being spent on megaprojects that benefit only a tiny, wealthy minority of the population, while access to basic services like clean water and health facilities remains rare. A new report by Vinay Baindur and Lalitha Kamath shows how governance of the World Bank and Asian Development Bank allows privileged access to money for some while the poorest are left in the dust. Read more Press Clipping \| 17 August 2009 Beyond the world creditors’ cartel In Latin America and elsewhere, the IMF may be re–emerging—but in a changed landscape. Read more Update \| 28 July 2009 Environmental licenses for San Antonio and Jirau hydroelectric dams open discussions Environmental organizations have mobilized against licensing of Santo Antônio and Jirau hydroelectric dams Read more Update \| 16 July 2009 Reflections on environmental and social program and the indirect impacts on Interoceanico Sur In order to help mitigate the effects of the economic crisis, Peru has created an "Anticrisis Plan" which in part will serve to finance big infrastructure proyects. These projects, given their scale and the government's poor management of such projects are bound to create problems. Read more Press Clipping \| 6 July 2009 New crisis in the Nile: geologist warns that Egypt may lose 8mn cubic mtrs of water for next 20 yrs Will the new crisis in the Nile affect the implementation of the West Delta project? Read more Update \| 2 July 2009 We want your feedback, as long as you speak English William Easterly, NYU Professor of Economics and independent voice in international development brings attention to the World Bank's problematic policies on translation. Read more Update \| 30 June 2009 The Bank of Babel Read a BIC opinion piece from the FP blog, The Argument, explaining why the World Bank must reconsider its current policies on translation and information disclosure in order to promote substantive civil society engagement. Read more Update \| 30 June 2009 Activist Q&A: Meet Yahya Saleh Mohsen BIC highlights the work of Yahya Saleh Mohsen of the Yemen Observatory for Human Rights. Yahya played an instrumental role in bringing a case to the World Bank Inspection Panel involving the Bank's translation policies in Yemen and beyond. Read more Press Clipping \| 25 June 2009 Indonesia: Controversy over clean-up plans for Java’s biggest river Civil society groups are concerned about project effectiveness and corruption in the allocation of Asian Development Bank funding to clean up the River Citarum, one of the world's most polluted rivers. Read more Update \| 24 June 2009 Obama's schooling the Bank on transparency The Huffington Post publishes a BIC Op-Ed contrasting the innovative transparency efforts of the Obama Administration with those of the World Bank. Read more Update \| 22 June 2009 Understanding Strategic Environmental Assessments (SEAs) The increasingly important topic of Strategic Environmental Assessments (SEAs) was recently discussed among civil society organizations in Bogota, Colombia. Participants in the event discussed the ways in which the SEAs can be most effective and how to overcome certain challenges in applying the SEAs to certain projects. Infrastructure and sustainable development topics are also covered in this SEA bulletin. Read more Update \| 19 June 2009 Peruvian congress votes 82 – 12 to repeal two controversial laws Government urged to drop criminal charges against indigenous leaders and allow independent investigation into violent incidents in Bagua, Peru Read more Update \| 16 June 2009 World Bank's Inspection Panel meets with civil society organizations to discuss transparency issues The meeting took place during the Inspection Panel's trip to Sana'a to determine the eligibility of a complaint about Yemeni civil society's inability to access a translation of a key Bank document. Read more Update \| 12 June 2009 Yemeni civil society finally get their translation 1.5 years after the Yemen Observatory for Human Rights first requested a translation of the World Bank's 2008 Development Policy Loan for Yemen, the Bank has finally made this translation available. Read more Update \| 5 June 2009 Bank provides only two-day notice for disclosure consultation in India Read more Update \| 27 May 2009 GTI submits model disclosure policy to the World Bank Global Transparency Initiative (GTI) develops a model of transparency for the World Bank to use as a reference during its information disclosure policy review Read more Update \| 27 May 2009 Summaries of World Bank meetings illuminate proceedings A freedominfo.org examination of World Bank board minutes versus summaries further strengthens the case for improved access to information at the Bank. Read more Update \| 27 May 2009 World Bank Transparency comment period extended The deadline to submit comments online for the World Bank's disclosure policy "Approach Paper" has been extended until June 5th. Read more Update \| 26 May 2009 GTI comments on the World Bank’s Approach Paper Global Transparency Initiative (GTI) comments on the World Bank‟s Transparency Approach Paper Read more Update \| 22 May 2009 Bangladeshi NGOs respond to the World Bank's disclosure policy review A consortium of civil society representatives met to discuss access to information at the World Bank in Bangladesh on May 20th. Read more Update \| 20 May 2009 Yemen's Inspection Panel Case: the up-side of bad news traveling fast Yemeni group files complaint with the World Bank's Inspection Panel and now change might already be in the air? Read more Update \| 20 May 2009 Web-based comment period for World Bank disclosure policy "Approach Paper" closes this week While the deadline to submit comments online for the World Bank's disclosure policy "Approach Paper" is this Friday, remaining in-person consultations will take place as planned and all comments provided at the consultations will be noted. Read more Press Clipping \| 13 May 2009 Andean and Amazon indigenous groups announce a hunger strike in Congress Peruvian indigenous organizations, CAOI, CONACAMI, AIDESEP, CCP, CNA, ANEMEBI, MCP, announced a hunger strike in protest of the reforms that are not included in Congress's agenda, specifically the legislative decrees about implementing the Free Trade Agreement with the US. Read more Update \| 12 May 2009 Memorandum on World Bank Board transparency Read BIC's memo on World Bank Board transparency that has been sent to the U.S. Treasury, World Bank staff, and the office of the United States Executive Director at the World Bank. Read more Update \| 5 May 2009 Civil Society to the World Bank: Adopt Transparency 2.0 BIC and partner NGOs sound off on the Bank's disclosure policy at this year's Spring Meetings Read more Update \| 22 April 2009 IFC's role in Yemen mining Trends in the relationship between World Bank and IFC technical assistance policies and the IFC’s investment portfolio raise questions over possible conflicts of interest. Disclosure at the IFC remains opaque, making details of projects and policies hard to come by. Read more Update \| 22 April 2009 Yemeni group says lack of translation inhibited transparency Yemeni civil society group take their complaint regarding the World Bank's refusal to translate a key program document, to the Inspection Panel Read more Update \| 20 April 2009 Voices struggling to be heard: Access to information and the World Bank The Huffington Post publishes a BIC Op-Ed that urges the World Bank to adopt a modern information disclosure policy. Read more Update \| 16 April 2009 World Bank to lend US$14bn to Latin America in FY09 The World Bank plans to increase lending to Latin America to suplement decreasing levels of foreign direct investment in the region. Read more Update \| 9 April 2009 World Bank responds to BIC letter regarding disclosure policy review Read correspondence between the Bank Information Center and the World Bank regarding the Bank's review of its Policy on Disclosure of Information. Read more Update \| 9 April 2009 GTI WB Update 3: brief comments on World Bank "Approach Paper" This update provides an analysis of the World Bank's Approach Paper entitled "Toward Greater Transparency: Rethinking the World Bank's Disclosure Policy", which was recently released. Read more Update \| 8 April 2009 BIC’s MENA program organizes regional workshop in Beirut The workshop discussed the World Bank’s Disclosure Policy Review, and introduced the World Bank’s Inspection Panel to our regional partners. Read more Update \| 3 April 2009 Workshop on World Bank transparency in Mexico BIC and FUNDAR (Mexico) are jointly organizing a workshop for the civil society of Mesoamerica in order to deepen their knowledge and plan for effecting change at the World Bank. The workshop will take place April 20th in Mexico City, the day before the World Bank's official consultation about their disclosure policy. Please read the document (in Spanish) linked below for information about participating in the workshop. Read more Update \| 20 March 2009 Accountability and Participation at the World Bank & IDB New study by BIC shows that IFIs have fallen far short of matching project design with discourse when it comes to promoting a culture of accountability through their own project loans. Read more Press Release \| 17 March 2009 World Bank to tackle review of information disclosure policy The World Bank launched the review of its information disclosure policy on Friday, March 13th with the public release of an Approach Paper. BIC and partners argue the case for greater transparency in Bank procedures. Read more Update \| 16 March 2009 2009 World Bank/IMF Spring Meetings Read the latest information on World Bank and civil society events organized around the upcoming World Bank/International Monetary Fund (IMF) Spring Meetings and how to get involved. Read more Update \| 13 March 2009 GTI Update 2: World Bank Launches Transparency Review World Bank publicly launches review of its Disclosure Policy Read more Update \| 13 March 2009 GTI Update: World Bank to review transparency standards As the World Bank launches a review of its policy on access to information, the Global Transparency Initiative will track the review process and provide analytical support to civil society groups concerned with transparency standards at the Bank. Read more Update \| 10 March 2009 Citizen observatory for Manta-Manaos project is created Read more Update \| 18 February 2009 World Bank violated policies and misinformed Board in Albania project Panel finds policy violations, provision of false information, and direct support for controversial demolition of homes in an Albanian village Read more Press Clipping \| 12 February 2009 AFP: Philippines summons World Bank official The World Bank Country Director for the Philippines has been ordered to appear before a Philippine Senate inquiry into a corruption scandal involving a multi-million dollar road project. Read more Update \| 10 February 2009 Declaration of the Coordinator of the Amazon Basin Indigenous Peoples Organization (COICA) The Amazon Basin Indigenous Peoples Organization (COICA) with our worldview, diversity of languages, history, cultures, spirituality, territory, economy, have existed since before recorded time. We have adopted different forms of organization and identity under the framework of the nation states which have established laws and regulations according to their own interests, not recognizing the ancestral rights of the first inhabitants of the amazon region. Read more Update \| 6 February 2009 Brazilian bank BNDES will lend again to Ecuador when differences are overcome Last year, the Government reported to an international court of debt of $ 242.9 million provided by the BNDES for the construction of the San Francisco hydroelectric. Read more Update \| 5 February 2009 World Bank operations in Syria are kept secret Bank engages Syria on reforms to its transportation sector, while its technical assistance activities - and its overall strategy for the country - remain unavailable. Read more Update \| 3 February 2009 World Social Forum 2009 For the 2009 World Social Forum (WSF), a group composed of various organizations is organizing a two day workshop for updates and strategy building to inform, discuss, plan and act in defense of the rights of affected populations and the environment. The organizations are working to prevent and/or mitigate any type of social and environmental negative impacts caused by the Initiative for the Integration of Regional Infrastructure in South America (IIRSA) and other harmful development strategies. Read more Update \| 9 January 2009 Global crisis is good news for IFIs in Latin America While the international financial institutions report sharp lending increases due to the global financial crisis, concerns over lack of transparency and accountability remain. Read more Press Clipping \| 29 December 2008 World Bank to train Brazilian state governments to capture FDI A new agreement between Brazil, the World Bank and the World Association of Investment Promotion Agencies is intended to train Brazilian state governments on reforms to local regulatory and licensing frameworks to facilitate great foreign direct investment in infrastructure projects. Read more Update \| 22 December 2008 Hydroelectric projects in Chile and Brazil Read more Update \| 16 December 2008 Stakeholders convened in Cairo to debate contentious issues surrounding the West Delta project Concerned parties threaten to file a court case against the Egyptian government if they do not receive satisfactory answers. Read more Update \| 8 December 2008 As Yemen suffers from water crisis, Bank support for water sector hinges on private sector solutions A recent meeting between the World Bank and the Yemeni Planning Minister focused on preliminary negotiations on a proposed water sector project. However, the central question remains whether the Bank is ensuring water access for the poor. Read more Press Release \| 18 November 2008 IMF and World Bank need to bolster transparency measures in the extractive industries A newly released joint report between Bank Information Center (BIC) and Global Witness critically assesses the World Bank Group's and the International Monetary Fund's (IMF) success in increasing transparency in extractive industries in resource-rich countries. Read more Update \| 30 October 2008 Corruption and lack of transparency in Tajik extractives industry Talco, a major aluminum mining company controlled by Tajikistan President Emomali Rahmon, is being investigated by the IMF to address issues of extreme mismanagement of funds and lack of openness. Read more Update \| 24 September 2008 Dramatic increase in World Bank loans to Europe and Central Asia The World Bank Group (WBG) loans to countries in Europe and Central Asia (ECA) increased by 30% between FY07 and FY08. Read more Update \| 19 September 2008 EBRD approves Pechora Energy Project in Komi Republic The European Bank for Reconstruction and Development (EBRD) has approved a US$50 million loan for expansion of oil and gas extraction operations in the Timan-Pechora basin of the northern Komi Republic in Russia. Various civil society groups have raised concerns of the major project's implications for the environment and the indigenous Komi-Izhemts people's rights. Read more Update \| 15 September 2008 El BID rechaza el dialogo con sociedad civil El Banco Interamericano de Desarrollo (BID) desestimó una propuesta de la sociedad civil para realizar un seminario conjunto sobre infraestructura y mecanismos de planificación sostenibles en el Amazonas. Dicho seminario se proponía para la próxima reunión que el Banco desarrollará con la sociedad civil en Montevideo, Uruguay, el 16 y 17 de Octubre. Por muchos motivos la relación del BID con la sociedad civil ha caído a su nivel más bajo. Read more Update \| 20 August 2008 Banks active in extractive projects in Russia’s Komi Republic IFI involvement in mining and oil projects in the Timan-Pechora basin raises environmental and social concerns. Read more Update \| 19 August 2008 Bretton Woods institutions send mixed messages about China’s role in Africa Since the Chinese economy has taken off and it has increasingly looked to Africa to provide raw materials, the World Bank and IMF have been confronted with the question of how to respond. Recent statements by the institutions have shown that these responses are careful and at times contradictory. Read more Update \| 14 August 2008 Available company data for IFC required disclosures The International Finance Corporation (IFC) fails to provide adequate links to government payment disclosures by its extractive industry clients. Read more Update \| 30 July 2008 The World Bank as a Knowledge Producer The author, Shripad Dharmadhikary, examines why being a knowledge provider is so important to the World Bank, and how the Bank uses its research and knowledge services to intervene in the policy making of borrowing countries. The Bank Information Center supported the distribution of this book so as to highlight this little discussed role of the World Bank. Read more Update \| 24 July 2008 Independent Report questions integrity of ASEAN assessment of Burma damages A new report released by an independent researcher from the Burmese community says that many victims of Cyclone Nargis are still not getting adequate relief material from international aid groups, including the United Nations agencies. Read more Update \| 18 July 2008 Civil society groups frustrated over ADB denials Civil society access to information is often impeded by the Asian Development Bank. Read more Update \| 17 July 2008 IMF working group drafts guidelines for sovereign wealth funds On July 9-10, 2008, the International Monetarty Funds’s (IMF) Working Group on Sovereign Wealth Funds (SWFs) held a two-day meeting in Singapore to address concerns around SWFs and consider possible guidelines. Read more Update \| 2 July 2008 Election controversy raises questions for Mongolia’s mining sector July riots signal the importance of transparency and responsible revenue management for Mongolia’s political stability. Read more Update \| 1 July 2008 Europe stays out of bid for top position at IMF's main policy-setting committee For the first time, the Europeans have decided to stay out of the bidding for the chair of the International Monetary and Financial Committee (IMFC). Read more Update \| 24 June 2008 Bota Foundation established The Bota Foundation, administered by the World Bank, held its first Board of Trustees meeting in June. Read more Country Update \| 4 June 2008 Kazakhstan Country Update #16 Recent developments, decisions, and civil society activities related to activities of the International Financial Institutions (IFIs) in Kazakhstan. Read more Country Update \| 4 June 2008 Kyrgyz Republic Country Update #5 Recent developments, decisions, and civil society activities related to activities of the International Financial Institutions (IFIs) in the Kyrgyz Republic. Read more Country Update \| 4 June 2008 Mongolia Country Update #2 Recent developments, decisions, and civil society activities related to activities of the International Financial Institutions (IFIs) in Mongolia. Read more Country Update \| 4 June 2008 Georgia Country Update #1 Recent developments, decisions, and civil society activities related to activities of the International Financial Institutions (IFIs) in Georgia. Read more Country Update \| 4 June 2008 Russia Country Update #1 Recent developments, decisions, and civil society activities related to activities of the International Financial Institutions (IFIs) in Russia. Read more Update \| 15 April 2008 IFC provides information on payments from extractive industry projects In response to requests from the Bank Information Center (BIC) and other civil society organizations, the International Finance Corporation (IFC) has begun providing links to where IFC extractive industry clients disclose their payments to host governments. Read more Press Release \| 9 April 2008 Kazakh environmentalists win access to emissions data at Karachaganak In a victory for environmental groups, the Kazakhstan’s Supreme Court ruled in favor of Green Salvation, a environmental group, in a precedent setting lawsuit seeking access to environmental information about atmospheric emissions at the Karachaganak Oil and Gas Condensate Field in western Kazakhstan. Read more Update \| 29 February 2008 World Bank reinventing its role in the Arab world New threats and opportunities have pushed the World Bank toward a new form of engagement in the Middle East and North Africa region. Read more Update \| 4 February 2008 Zoellick commits to expanding Extractive Industries Transparency Initiative Addressing the African Union Summit on Thursday, January 31, 2008, World Bank President Zoellick committed to expanding the Extractive Industries Transparency Initiative (EITI). Read more Update \| 30 January 2008 Civil Society Guide to IFI Policy Reviews Read more Update \| 25 January 2008 World Bank to implement Volcker panel recommendations Following the resignation of Suzanne Rich-Folsom, the previous head of the World Bank's anti-corruption unit and the embarrassing revelations of extensive fraud in several of its health projects in India, the World Bank announced on January 23, 2008 that it would implement all the recommendations of the Volcker Panel Review. Read more Update \| 17 January 2008 Did the World Bank and the IMF use false statistics to build their economic success story in Egypt? A report issued by the Egyptian Central Auditing Organization accuses the Egyptian government of using misleading financial statistics. Read more Update \| 2 January 2008 World Bank pressed to disclose documents on controversial Yemen reform program Policy conditions attached to the $50 million grant include a reduction of the civil service, land reform, and lower corporate taxes. Read more Update \| 7 December 2007 World Bank to support Yemen's economic reform agenda The World Bank approved the $50 million grant yesterday without disclosing relevant project documents. Read more Update \| 29 November 2007 European Parliament passes resolution to end taxpayer support for fossil fuel projects Resolution is welcomed by NGOs campaigning to have export credit agencies and public investment banks be held accountable for their actions. Read more Update \| 7 November 2007 Terms of appointment for IMF head disclosed For the first time, the International Monetary Fund (IMF) has publicly disclosed the official terms of appointment for its new Managing Director, Dominique Strauss-Kahn. His terms include an annual salary of $420,930 (net of income taxes), an annual allowance of $75,350 for maintaining “a scale of living,” and the ability to resign from his position at any time. Read more Update \| 2 November 2007 CSOs draft open letter to Bank of the South members On November 1, Jubilee South and other civil society organizations unveiled an open letter to the presidents of Argentina, Bolivia, Brazil, Paraguay, Uruguay and Venezuela calling for a sovereign, supportive, sustainable and integrated Bank of the South. Read more Update \| 9 October 2007 The International (European) Monetary Fund? As yet another top post at the International Monetary Fund goes to a European, critics question the institution's committment to increasing the voice and representation of developing country constituencies in the Fund. Read more Update \| 14 September 2007 New safeguard and disclosure policies at MIGA surpass IFC on development impact reporting On August 28, the Board of the World Bank Group’s political risk insurance arm approved new social, environmental and disclosure policies, and committed to report on the development impacts of its most ‘sensitive’ projects. Read more Update \| 14 September 2007 Volcker report finds Bank ineffective in addressing corruption A review of the World Bank's Department of Institutional Integrity and its Governance and Anti-corruption strategy finds that weak management, employee resistance and internal distrust is contributing to the Bank's ineffectiveness in combating corruption in its operations. Read more Update \| 13 September 2007 ADB tries to mitigate path to irrevelancy The Asian Development Bank is contemplating changing mission its from “poverty reduction” to “inclusive, environmental friendly growth” and promoting “regional economic integration” as it tries to re-invent itself for the “New Asia.” Read more Update \| 7 September 2007 U.K. backs Strauss-Kahn and Europe assures reforms, while developing countries cry foul The U.K. confirms its support of the EU nominee Dominique Strauss-Kahn for the leadership of the IMF; Luxembourg's prime minister assures a non-European leader in the future; and emerging countries such as India call out for real reform of governance in the IMF. Read more Update \| 6 September 2007 GAP details serious issues with World Bank's anti-corruption unit In a report released today, the Government Accountabilty Project finds that the World Bank's Department of Institutional Integrity is undermined by a conflict of interest at its top ranks and serious, long-term problems. Read more Update \| 6 September 2007 World Bank tries to hide scathing corruption report The Wall Street Journal has leaked a 2005 report by the World Bank's Department of Institutional Integrity (INT) that documents consistent fraud and corruption under Bank-financed health care projects in India. Read more Update \| 22 August 2007 IMF head selection process: Russia crashes western Europe’s party While western European countries continue to assert naming rights to run the IMF, Russia makes a surprise nomination. Read more Update \| 17 August 2007 ADB's Energy Strategy must adhere to international standards The Asian Development Bank has completed the consultation process on its draft Energy Strategy. Civil society organizations from throughout the region have called on the ADB to incorporate current international best practices in sector, and at minimum to adopt the principles of the Extractive Industries Transparency Initiative. Read more Update \| 1 August 2007 WB, IMF and AfDB-backed program to privatize Egyptian banks arouses controversy The Egyptian government is facing criticism from members of its parliament over plans to sell off the country’s publicly owned banks. The plan to privatize several national banks within the framework of an $8.7 billion financial sector reform program has the backing of the World Bank, the International Monetary Fund, the African Development Bank and US Agency for International Development. Read more Update \| 26 July 2007 U.S. backs Strauss-Kahn to lead IMF The U.S. backing of Dominique Strauss-Kahn will likely confirm his nomination to head the IMF, continuing the "old boy's club" tradition. Read more Update \| 20 July 2007 Where will Zoellick steer the World Bank? The new World Bank President spoke of middle income countries, good governance and the need to diversify services at a town hall meeting earlier this month. Read more Update \| 19 July 2007 Controversy in Egypt over discounted gas to Spain Sale of gas from EIB-financed LNG plant in Egypt at discount prices raises questions about who benefited from the deal. Read more Update \| 5 July 2007 World Bank removes pollution death toll from report at urging of Chinese government The World Bank allegedly removed inflammatory findings on pollution-related deaths from a report under pressure from the Chinese government. Read more Update \| 13 March 2007 Public Consultation on EIB's Anti-Fraud Policy The EIB is launching a public consultation as part of a review of its anti-fraud policy from February 12-April 18, 2007. If required, this process will be extended to include another 20 working-day consultation, taking into account stakeholder comments from the first round. Comments accepted until April 18, 2007. Read more Update \| 26 February 2007 Update: Extractive industries campaigner released from prison, but still unable to leave Angola Although Dr. Sarah Wykes, an anti-corruption campaigner at Global Witness, has been released from prison following her Feb 20 arrest on espionage charges, she has not yet been able to leave the oil-rich Cabina region, where she was detained. Read more Update \| 23 February 2007 Update #20 from the Global Transparency Initiative In this issue: UK launch of transparency charter for IFI's, EBRD approves new disclosure procedures, NGO disputes ADB on disclosure of Phulbai coal mine project documents; reports, articles, and more Read more Update \| 23 February 2007 MIGA reviewing Social, Environmental and Disclosure Policies The World Bank's Multilateral Investment Guarantee Agency (MIGA) has posted draft policies for public comment until April 27, 2007. Read more Update \| 9 January 2007 New BIC Publication: Public Disclosure of Legal Agreements in EBRD Extractive Industry Projects BIC's Europe and Central Asia program recently conducted a research study of legal agreement disclosure in European Bank for Reconstruction and Development (EBRD) Extractive Industries projects. Read more Update \| 9 January 2007 New BIC Publication: Quick Reference Guide to Revenue Transparency at the IFIs BIC's Europe and Central Asia program has compiled an easy access source of information on International Financial Institution (IFI) disclosure policies and their weaknesses. Read more Update \| 9 January 2007 BIC Publication: EIR Implementation Status Report In July 2001, the World Bank Group (WBG) commissioned the Extractive Industry Review (EIR), a process led by an independent secretariat established to analyze whether extractive industries projects could be compatible with the WBG’s goals of sustainable development and poverty reduction. Read more Update \| 7 December 2006 Global Transparency Initiative comments on EBRD draft disclosure procedures In the wake of an announcement from EBRD that it will review both its disclosure and environmental policies in 2007, the Global Transparency Initiative (GTI) makes comments on information requests and appeals systems of the Public Information Policy. Read more Update \| 13 November 2006 EBRD issues draft procedures on disclosure requests and appeals process Last week the European Bank for Reconstruction and Development (EBRD) released a draft of "Implementing Procedural Provisions for Information Requests and Appeals." The draft is available on the bank’s website, and will be open for public comment for 30 days. Read more Update \| 8 November 2006 Financial institution transparency - making money talk An article from Ethical Corporation on the Global Transparency Initiative's Charter for International Financial Institutions... Read more Update \| 21 October 2006 Wolfowitz's anti-corruption plan receives lukewarm reception at Annual Meetings The World Bank's controversial Governance and Anti-Corruption Framework was the subject of intense debate prior to the Annual Meetings, raising important questions about the appropriate role for the Bank in fighting corruption, and the need for the institution to clean up its own act before dictating strategies to others. Read more Update \| 12 October 2006 Global Transparency Initiative Update #19 In this issue: Endorse the GTI Transparency Charter; Evaluating the World Bank Group’s Commitment to Openness; Testing the EBRD’s Disclosure Appeals; The Deadline for Comments on the ADB Translation Framework Approaches; and more. Read more Update \| 12 October 2006 GTI Publishes FOI Testing Report on IFIs This report deftly monitors and analyses the practical and real-world application of the access to information provisions and participatory decision-making processes at the international financial institutions (IFIs). Read more Update \| 26 September 2006 Letter from GTI to World Bank and IMF This letter was sent from the Global Transparency Initiative (GTI) to the President of the World Bank, Paul Wolfowitz, and Managing Director of the IMF, Rodrigo de Rato, on September 15, 2006 regarding the civil society boycott of the Annual Meetings in Singapore. Read more Update \| 19 September 2006 GTI Launches Transparency Charter for IFIs The new charter created by the Global Transparency Initiative (GTI), seeks significantly improved transparency standards across all international financial institutions (IFIs). Read more Update \| 18 September 2006 Groups express concern over selection process of panel members for ADB accountability mechanism Following is a joint civil society letter that was sent to Asian Development Bank President, Haruhiko Kuroda, regarding the selection process for the position of the Special Project Facilitator. Read more Update \| 21 August 2006 World Bank releases newest draft of governance and anticorruption framework Read more Update \| 20 July 2006 Global Transparency Initiative Update #18 In this issue: invitation to comment on draft GTI IFI Transparency Principles; announcement of GTI small grants; information on how to comment on the ADB Translation Framework; and information on the EBRD's approval of its new disclosure policy. Read more Update \| 13 July 2006 Senators want to see progress on whistleblower protection at the World Bank Highlighting the steps taken by the United Nations, Senator Chuck Grassley from Iowa (Republican) and Norm Coleman from Minnesota (Republican) sent a letter to President Paul Wolfowitz seeking a status report on whistleblower protection at the World Bank. Read more Update \| 22 May 2006 EBRD approves new disclosure policy On May 16, the Board of the European Bank for Reconstruction and Development (EBRD) approved new transparency requirements for the institution. Little progress has been made... Read more Press Release \| 13 April 2006 Press Release: New EIB information policy a step in right direction but needs to be tested, say NGOs While the new policy does not reflect all the proposals put forward by civil society organisations which engaged in the consultation process, it is nevertheless an important step in the right direction from the EU's multi-billion euro lending house bank. Read more Update \| 7 April 2006 Update #17 from the Global Transparency Initiative In this issue: GTI proposes amendments to EIB Transparency Policy, GTI submits letter to EBRD; EIB discloses final draft Disclosure Policy and Consultation Report, EBRD reviews Disclosure Policy, IFC approves Disclosure Policy, IMF publishes report on Fund transparency; reports, articles, and more Read more Update \| 15 March 2006 CAO Posts Comments on IFC Safeguards; Private Sector Review of Equator Principles Begins The Compliance-Advisor Ombudsman (CAO) released last week its comments on the January 25th drafts of the International Finance Corporation’s (IFC) Safeguards policies, which the IFC approved February 21, 2006. Following the IFC’s lead, a collection of private sector financial institutions intends to complete a review of their guiding policies on social and environmental issues, the Equator Principles. Read more Update \| 3 March 2006 EBRD Reviews Disclosure Policy The European Bank for Reconstruction and Development (EBRD) recently released a new draft of its Public Information Policy for public comment until April 14, 2006. Read more Correspondence \| 23 February 2006 GTI Submits Letter to EBRD on Disclosure Policy The Global Transparency Initiative (GTI) recently sent a letter recommending changes to the European Bank for Reconstruction and Development’s (EBRD) Public Information Policy (PIP), which will be reviewed publicly in the coming months. Read more Update \| 23 January 2006 Update #16 from the Global Transparency Initiative In this Issue: Comment on draft IFI Transparency Principles; Freedom of Information Act Ruling Promotes Transparency at the IFIs; EBRD Responds to Civil Society Inquiries about Disclosure Policy Review; EIB Publishes Comments from Second Consultation Period; IDB Offers Project Information "Survey;" reports, articles and more Read more Update \| 23 January 2006 Freedom of Information Act Ruling Promotes Transparency at the IFIs Read more Update \| 9 December 2005 Update #15 from the Global Transparency Initiative In this Update: Comment on draft IFI transparency principles; FOI testing in Argentina; IIC approves new disclosure policy; Consultation ends second EIB comment period; IFC commenting period closes; reports, articles, and more... Read more Update \| 2 December 2005 BIC Submits Comments on International Finance Corporation Draft Policies These comments address transparency and consultation concerns with the draft IFC Disclosure Policy, Social and Environmental Sustainability Policy and Performance Standards. Read more Update \| 17 November 2005 US Government's 2006 Foreign Operations Appropriation Bill Finalized, Becomes Law New legislation includes provisions targeting reforms at the multilateral development banks (MDBs) Read more Update \| 14 October 2005 Update #14 from the Global Transparency Initiative In this Update: New Transparency Website Available; Final draft GTI charter ready for comment; IFC opens consultation on its disclosure policy; Comment period on EIB disclosure policy begins; Changes to IMF transparency policy; reports, articles and more... Read more Update \| 13 October 2005 IFI Transparency Resource Includes New ADB Disclosure Requirements The database has recently been updated to reflect changes from the Asian Development Bank’s new Public Communications Policy. Read more Update \| 4 October 2005 Comment on EIB draft disclosure policy until October 21st The European Investment Bank has begun a second round of public consultation on its Disclosure and Information Policy. Read more Update \| 27 September 2005 Global Transparency Initiative Launches Final Consultation on Draft Transparency Charter The Transparency Charter for International Financial Institutions outlines the rules that should govern IFI disclosure policy and the principles that should guide its practice. Read more Update \| 29 July 2005 BIC prepares summary on CSO recommendations on ADB communications policy While not all recommendations from civil society were incorporated into the new PCP, tables reveal that new Policy would not have as many improvements if CSOs had not intervened. Read more Update \| 29 July 2005 Update #13 from the Global Transparency Initiative In this update: EIB extends its disclosure policy review process; IDB releases reports on disclosure policy implementation; reports, articles, and more ... Read more Update \| 28 June 2005 New report scrutinizes lending through Financial Intermediaries Read more Update \| 16 June 2005 118 organizations call for new approach to disclosure at European Investment Bank As EIB reviews its disclosure policy, civil society delivered a statement, endorsed by organizations from around the world, noting lack of significant improvement in the draft policy and offering recommendations for greater transparency. Read more Update \| 14 June 2005 Civil Society Guide to IFI Policy Reviews now available Read more Update \| 14 June 2005 Civil Society Guide to IFI Policy Reviews The IFI Policy Review Web page is a recent addition to the BIC website! This page is updated regularly to allow you to keep track of consultation documents, important dates, civil society analyses and more. Read more Update \| 23 May 2005 Update #12 from the Global Transparency Initiative In this update: GTI Charter; EIB and IIC to review disclosure policies; ADB and World Bank approve revisions to disclosure policies; reports, articles and more... Read more Update \| 25 April 2005 NGOs raise concerns on ADB communications policy ADB urged to recognize affected communities as one of the primary target audiences of its communications policy, as done in initial drafts. Read more Update \| 22 April 2005 Friends of the Earth International Presents the IFC with “Most Flawed Consultation Award” The International Finance Corporation (IFC) Safeguard Policy Review is the winner of the 2004 'Award for the Most Flawed Consultation Process' within the World Bank Group, civil society organizations announced. Read more Update \| 6 April 2005 BIC recommends stronger transparency standards for IFC BIC submits comments on the IFC's Disclosure Policy Framework calling for strengthened disclosure principles, procedures and constraints; increased institutional transparency; and increased investment-specific transparency. Read more Update \| 24 March 2005 World Bank Board of Directors approves revisions to disclosure policy Following an almost two-year, secretive review process, the World Bank’s Board approves several new disclosure requirements to be effective as of April 1, 2005. Read more Update \| 22 March 2005 Update #11 from the Global Transparency Initiative In this update: GTI draft IFI Transparency Charter; Launch of IFI Transparency Resource; GTI small grants; ADB and IFC disclosure policy reviews; recent articles and more ... Read more Update \| 11 March 2005 Comment on the Global Transparency Initiative's IFI Transparency Charter This document is the initial outline of the GTI’s IFI Transparency Charter. The Charter will be the key document clarifying the GTI’s vision for IFI transparency reform. We encourage all organizations and individuals interested in IFI transparency to comment on this initial document. Read more Update \| 2 February 2005 Small grants available from the Global Transparency Initiative Organizations and individuals working on transparency at the International Financial Institutions can use grants for case studies, advocacy, and translation. Read more Update \| 26 January 2005 BIC launches www.ifitransparencyresource.org: a tool for comparing IFI Transparency standards On February 7, BIC and freedominfo.org launched the IFI Transparency Resource - an information portal developed to support the global efforts for more democratic governance. Read more Update \| 14 December 2004 ADB Disclosure Policy: ADB to release Working Paper by December 23rd The Working Paper will be available for public comment for a 30 day period after which it will be revised and submitted to the Board as a Restricted Paper for final approval. Read more Update \| 30 November 2004 New BIC report calls for revenue transparency in oil, gas, and mining projects Read more Update \| 29 November 2004 Civil Society comments on ADB’s second draft Public Communications Policy Civil society organizations send joint comments to the ADB on the second draft of its Public Communications Policy. Read more Update \| 3 November 2004 ADB 2nd draft of revised disclosure policy open for comments through Nov. 24 After a series of 13 face-to-face consultations, the ADB released a second draft of its Public Communications Policy (PCP) on October 26, 2004. This draft is open for comments until November 24th. Read more Update \| 6 October 2004 26 NGOs decide not to participate in IFC’s Washington DC consultation In response to a rapid and substandard policy consultation process, 26 NGOs declined to participate in the International Finance Corporation’s (IFC) civil society meeting in Washington DC. Read more Update \| 16 September 2004 121 civil society members claim that IFC consultation process is “seriously flawed” Read more Update \| 7 September 2004 BIC Policy Update: Review of IFC social, environmental and disclosure policies This policy update introduces the ongoing policy reviews at the IFC, outlines the review process, and provides useful links to background documents. Read more Update \| 9 August 2004 IFC responds to NGO sign-on letter On July 6, 140 NGOs endorsed a letter to the IFC regarding the reviews of its environmental and social policies and standards. The IFC responds ... Read more Update \| 5 August 2004 Update #10 from the Global Transparency Initiative- July 30, 2004 In this update, read about the NGO "walk out" of the ADB consultation in India, the second "Corruption at the MDBs" Senate hearing in the US, and the latest on the World Bank, International Finance Corporation (IFC) and European Investment Bank (EIB) transparency work. Read more Update \| 20 July 2004 Civil society groups in Bangladesh call for more transparency from the ADB An article from The Daily Star, Dhaka, highlights civil society criticism of ADB policies ... Read more Update \| 15 July 2004 140 NGOs call on IFC for clear rights, rules and responsibilities in policy reviews In a letter sent to the IFC, civil society groups are calling for a greater focus on human rights and transparency as the IFC begins to draft its safeguard and disclosure policy approach papers this month. Read more Update \| 10 June 2004 IFC responds to NGO concerns about disclosure policy review process A letter from the IFC notes that the IFC may move away from a “document-driven” policy to one that is based on transparency “principles” Read more Update \| 7 June 2004 At G8 Summit, civil society demands follow-through on commitments Representatives of prominent African NGOs and trade unions have called upon the G8 to take action on their unfulfilled promises to address the debt, trade and HIV/AIDS issues. Transparency network calls for more disclosure. Read more Update \| 28 May 2004 BIC submits comments on the ADB's draft Public Communications Policy Read more Update \| 24 May 2004 World Bank to consider significant improvements in disclosure policy Read more Update \| 13 May 2004 Update #9 from the Global Transparency Initiative- May 12, 2004 In this update- news on the MDB corruption hearings in the US Congress; announcements about the ADB's and IFC's disclosure policy reviews; article on revenue transparency... Read more Update \| 5 May 2004 ADB disclosure policy consultations underway: Submit comments by May 28. Read more Update \| 8 April 2004 NGO letter expresses concern with IFC disclosure policy review process Read more Correspondence \| 8 April 2004 Letter to ADB President from NGOs stresses shortfalls of Draft Public Communications Policy Read more Update \| 24 March 2004 ADB announces schedule for disclosure policy consultations Read more Update \| 11 March 2004 IDB Releases Disclosure Policy Implementation Plan On January 12th, the Inter-American Development Bank released an Information Disclosure Policy Implementation Plan, outlining the phased implementation of their new disclosure requirements. Read more Update \| 10 March 2004 Transparency recommendations from the EIR The final report of the Extractive Industries Review specifically recommends that the World Bank Group promote transparency in revenue flows, set up independent grievance mechanisms, improve access to information at the local level.... Read more Update \| 8 March 2004 AfDB releases new Information Disclosure Policy Read more Update \| 4 March 2004 ADB releases draft disclosure policy for comment Read more Update \| 2 March 2004 Update #8 from the Global Transparency Initiative- March 1, 2004 Update from the GTI includes information on ADB Draft Disclosure Policy, IFC Disclosure Policy Review, and a calendar of upcoming events Read more Update \| 10 January 2004 BIC sends AfDB comments on draft Disclosure Policy Read more Update \| 15 December 2003 Update #7 from the Global Transparency Initiative- December 15, 2003 Update from the GTI includes information on transparency measures in the Extractive Industries Review and disclosure policy reviews at the IDB and ADB. Read more Update \| 1 December 2003 IDB approves a new Disclosure Policy While the new policy is a marked improvement over the previous, in a number of areas it still falls short of the transparency standards already in place at other MDBs. Read more Update \| 12 November 2003 Update #6 from the Global Transparency Initiative- November 12, 2003 Read more Update \| 2 September 2003 Global Working Group on IFI Transparency Update #5, August 1, 2003 Includes info on a FOIA request of EIB, call for a comprehensive translation strategy at the World Bank, and latest resources. Read more Print this page Email this page		Search Key Issues Forest Carbon Partnership Facility IFC Policies and Standards Review World Bank Energy Strategy Review World Bank Transparency Review See also Transparency at the ADB Transparency at the AfDB Transparency at the EBRD Transparency at the IDB Transparency at the IFC World Bank Transparency Review Stay Informed! Sign up for our e-newsletters. SignUp

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