STUNG by criticism that it -is environmentally insensitive, the International
Finance Corporation (IFC), a
major funding institution, has
decided to make public its environmental impact assessments
before it signs the financial
agreements for projects.
Under, the new guidelines
approved by the IFC board recently, the
environmental impact assessments of
different projects Will be released at the
financial institution's headquarters in Washington on the Internet, and 'also in
the country where the proposed project
is to come up. This will ensuri maximum public debate and also participation from NGOS on the project, feel the
IFC officials.
"The revised disclosure
policy represents a significant
step forward in our effort to
open a window on our decision-making process, take the views of
the people affected by proposed
investments into account and
integrate environmental considerations
more fully into our internal procedures," says Jannik Lindbaek, executive
vice president, IFC.
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