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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"

 

from: http://www.brettonwoodsproject.org/art-565320


 
1 Comment(s):
hibist said...
I find it hard to understand what is ethical in the IFC determining when a project is significant enough to merit examination? That should be left to African governments and civil society. Its plain arrogant, offensive to the African people and exposes the secretive nature of the extractive sector. I have to further add that the stabilization clauses are plain dangerous,needless to say undemocratic. It is a worrisome trend
September 29, 2009 13:14:35 PM
 
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