Briefing on indigenous peoples and private sector project financing

Excerpt: "...This briefing looks at international financing for private sector projects from three different sources: the International Finance Corporation (IFC), the Equator Principles Banks (EPBs) and Export Credit Agencies (ECAs). In 2006, these institutions adopted or are in the process of adopting new policy standards on indigenous peoples. The IFC is part of the World Bank Group (WBG) and until recently employed World Bank policies on indigenous peoples and
other issues. On 1 May 2006, a new set of IFC private sector-specific policies came into force, including a new instrument concerning indigenous peoples. The EPBs are 41 major commercial banks that have signed on to a set of environmental and social standards known as the Equator Principles. These Principles are based on the policies employed by the IFC and were recently updated to be consistent with the new IFC policies. ECAs are national level
bodies owned and operated by most industrialized countries that provide loans and export credits to their own national companies for their operations abroad. Most ECAs are meeting at the end of May 2006, to discuss whether they will adopt the new IFC standards and apply them in their projects. Considering that the new IFC policies will also be used by the EPBs and potentially by ECAs, this briefing will primarily focus on and summarize these policies, particularly the one directly addressing indigenous peoples. A more complete analysis of the
new IFC standards will be available later this year..."

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