PRIZMA

The IFC  published its Updated Guidance Notes, the companion to the Updated IFC Performance Standards, which will also apply to Equator Banks and be effective January 1, 2012. 

The new IFC Performance Standards (IFC board approved in May 2011, listed and hot-linked further below) and the Guidance Notes apply to all IFC investment and advisory clients whose projects go through IFC’s initial credit review process after January 1, 2012.

In early December 20111, the Equator Principles (EP) Association Steering Committee disclosed that the newly revised IFC Performance Standards will also take effect for EP Association Members on 1 January 2012. Accordingly, Exhibit III of the Equator Principles (which refers to the 2006 IFC Performance Standards) will be updated on 1 January 2012 to reflect their implementation by EP Association members under the current Equator Principles framework.

IFC also noted that the updated 2012 edition of IFC’s Sustainability Framework will apply to all IFC investment and advisory clients whose projects go through its initial credit review process after January 1, 2012. The 2006 edition of IFC’s Sustainability Framework will continue to apply to investments that go through IFC’s initial credit review process from February 2006 to December 31, 2011. IFC investments made prior to Feb. 2006 will be subject to the Safeguard Policies.

Do you think that the January 2012 effectiveness date of the updated IFC Performance Standards and Guidance Notes (that will also apply to Equator Banks) influenced any project developers to accelerate their project finance and political risk insurance applications?

 Hotlinked List of Updated IFC Performance Standards and Guidance Notes (2012 Edition)

• PS1 - Assessment and Management of Social and Environmental Risks and Impacts
• GN1 - Assessment and Management of Social and Environmental Risks and Impacts
• PS2 - Labor and Working Conditions
• GN2 - Labor and Working Conditions
• PS3 - Resource Efficiency and Pollution Prevention
• GN3 - Resource Efficiency and Pollution Prevention
• PS4 - Community Health, Safety and Security
• GN4 - Community Health, Safety and Security
• PS5 - Land Acquisition and Involuntary Resettlement
• GN5 - Land Acquisition and Involuntary Resettlement
• PS6 - Biodiversity Conservation and Sustainable Management of Living Natural Resources
• GN6 - Biodiversity Conservation and Sustainable Management of Living Natural Resources
• PS7 - Indigenous Peoples
• GN7 - Indigenous Peoples
• PS8 - Cultural Heritage
• GN8 - Cultural Heritage

This entry was posted on Wednesday, December 21st, 2011 at 2:51 pm and is filed under Equator Principles, IFC Performance Standards. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.