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September 29, 2009 10:29:18 AM
Posted By administrator
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"Civil society groups have long pressed the IFC to adopt a contract disclosure requirement for all of its extractive projects to ensure good governance. According to Lindlyn Tamufor from Third World Network-Africa, "not only do contracts determine government revenues, they can also have important implications for communities, the environment, and human rights." Stabilisation clauses in contracts, which exempt investors from compliance with changes to domestic law are prevalent in extractives contracts. The UN and civil society groups have criticised these clauses for undermining the ability of countries to apply international human rights standards"
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