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Extractive Industries Review


In 2004, the World Bank Group concluded a multi-stakeholder review of its support for extractive industries in the fight against poverty. The Bank had commissioned three independent reviews. All three reports concluded that extractive industries can contribute to poverty reduction if done right and that World Bank Group involvement can positively influence industry standards.

The Bank Group’s management responded to the three independent reports’ recommendations with reforms to better ensure that projects contribute to sustainable development.
 

  • Extractive industry investment projects now require disclosure of revenues.
  • Projects’ development impacts are tracked more thoroughly.
  • An advisory group has been established and reports of its meetings are made public, as are annual implementation progress reports.
  • A revision of the World Bank’s Indigenous Peoples policy was approved in 2006, reflecting Bank efforts to strengthen local community participation in EI projects.
  • IFC has updated its environmental and social performance standards also in 2006.
  • To help develop capacity among small and local companies and build expertise among local communities, IFC has set-up a Community Development Fund (www.commdev.org).


The World Bank’s oversight body, the Board of Executive Directors consisting of representatives for all member countries, asked the World Bank to continue investments in oil and coal as they are critical for many developing countries. One independent report had recommended terminating support for such projects over time.

 

World Bank Group
Extractive Industries Review Implementation Reports

 

World Bank Extractive Industries Review Advisory Group


 

World Bank Group
Management Responses to Extractive Industries Reviews 


Final World Bank Group EIR Management Response--Executive Summary (346 KB pdf)
Final World Bank Group EIR Management Response (Full Report,
English [14 MB pdf], Arabic [302 KB pdf], Chinese [320 KB pdf], French [243 KB pdf], Russian [179 KB pdf], Spanish [229 KB pdf])
Español • Français•  Русский•  عربي • 中文
All comments received during the period in which the original draft was up for review were summarized in a compendium.

The Chairman's summary of the Board discussion is available
here.
Management Response to OED/OEG/OEU Evaluation (298 KB pdf)
Management Response to CAO Report (136 KB pdf)
EIR Management Response Press Release (
English) (French

 

Extractive Industries Review Reports


Executive Summary (English / French / Russian / Spanish ) 


 

Correspondence


James Wolfensohn Response to NGOs0; James Wolfensohn Response to Dr. Emil Salim0 ; Joint Statement from Messrs. Salim and Wolfensohn on Extractive Industries Review0; WBG/Civl Society Meeting Transcript

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