Johannesburg, October 8, 2011 —
The New Forests Company has announced it is finalizing the process of launching
an investigation into its operations in Uganda http://www.newforests.net/index.php/hmd_article/nfc-to-launch-investigation-into-land-issues-in-uganda.
NFC must now clarify the supervision of the investigation to ensure stakeholders
of the credibility and independence of the review.
The Oxfam report raises issues that
IFC takes very seriously.
Johannesburg, September 28, 2011—IFC today released the following
media statement regarding allegations of displacement of residents in national
parks in Uganda related to forestry concessions operated by the New Forests
The Oxfam report raises issues that IFC takes very seriously. IFC is committed
to ensuring New Forests Company undertakes an independent and transparent
review. NFC is drafting a terms of reference that IFC and other stakeholders
will validate before the review gets underway. The World Bank Group is
strongly committed to supporting projects that contribute to development
and improve people's lives in Uganda and elsewhere in Africa.
NFC is an investee company of the Agri-Vie Agribusiness Fund in which IFC
made an equity investment in 2010.
The Summary of Proposed Investment is available here:http://www.ifc.org/ifcext/spiwebsite1.nsf/ProjectDisplay/SPI_DP27674
IFC, a member of the World Bank Group, is the largest global development
institution focused exclusively on the private sector. We help developing
countries achieve sustainable growth by financing investment, providing
advisory services to businesses and governments, and mobilizing capital
in the international financial markets. In fiscal 2011, amid economic uncertainty
across the globe, we helped our clients create jobs, strengthen environmental
performance, and contribute to their local communities—all while driving
our investments to an all-time high of nearly $19 billion. For more information,