Policies approved by Board (Feb 21)

The Safeguard Policies Update Process and Timetable The Safeguard Update is now in its final phase. The timetable below outlines the key steps of the Safeguards Update. Additional background information can be found in the Terms of Reference (TOR) for the Safeguards Update. It is important to note that the timetable for the final phase outlined below reflects IFC expectations for completing this part of the process. The process and timetable provides the public a snapshot of all the steps the Safeguards team took in revising the current Safeguard Policies and consulting on the draft Policy and Performance Standards. For those who wish to know more about the consultation process, see the Archived Consultation Process page.

	ACTIVITY		TARGET DATES
PHASE III: BOARD BRIEFING AND EXTERNAL CONSULTATION Starting July 2004 Effective date on the new Policy on Social and Environmental Sustainability and Performance Standards early 2006 Submit final Safeguards to IFC Management and Board for approval February 21, 2006 Public Comment Period Ends November 25, 2005 Public release of revised Policy draft & Performance Standards September 22, 2005 Briefing for IFC Board – Committee on Development Effectiveness September 7, 2005 Revise and finalize safeguards May - July 2005 End of external consultation on the Policy and Performance Standards April 29, 2005 Review and analyze feedback from regional consultations December - April 2005 Regional consultation 4 (Istanbul, Turkey) December 2004 Regional consultation 3 (Nairobi, Kenya) November 2004 Regional consultation 2 (Manila, Philippines) October 2004 Regional consultation 1 (Rio de Janeiro, Brazil) September 2004 Plan external consultation process July-August 2004 Release draft policy document for public comment August 16, 2004 Present draft policy document to the IFC Board July 26, 2004 PHASE II: SAFEGUARDS STRUCTURE, DRAFTING AND INTERNAL CONSULTATION January - June 2004 Presentation to Senior Management June 2004 Refine policy draft May-June 2004 Seek external expert input April 2004 Consult internal stakeholders within the World Bank Group April-June 2004 Draft minimum standards April-June 2004 Draft a policy framework April-June 2004 Determine key content for minimum requirements March 2004 Develop a conceptual policy framework February 2004 Determine issues to be addressed as safeguards January 2004 Website established January 2004 Release IFC's response to the CAO review January 2004 Report to the IFC Board on the Management Response to the CAO's Review of the Safeguard Policies January 2004 PHASE I: PREPARATORY STEPS AND IDENTIFICATION OF GAPS October-December 2003 Brief Senior Management on the results of the gap analysis December 2003 Begin to plan communication and engagement December 2003 Finalize IFC's response to the CAO Review December 2003 Identify, analyze and prioritize issues and gaps December 2003 Articulate current IFC minimum environmental and social requirements November 2003 Convene Core Group to guide and manage the update process November 2003 BACKGROUND CONTEXT Compliance Advisor Ombudsman (CAO) report ‘A Review of IFC’s Safeguard Policies’ published April 2003