Chapter

IFC and norms of sustainable finance

Susan Park

in World Bank Group Interactions with Environmentalists

Published by Manchester University Press

Published in print April 2010 | ISBN: 9780719079474
Published online July 2012 | e-ISBN: 9781781703335 | DOI: http://dx.doi.org/10.7228/manchester/9780719079474.003.0004
IFC and norms of sustainable finance

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This chapter investigates how the International Finance Corporation (IFC) became embroiled in environmental debates over its loans and guarantees. It explains that though the IFC operates separately and has different role and function than the World Bank, it has overlapping member states with similar power structures and espouses the same development norms of economic growth and poverty alleviation. This chapter describes the IFC's first big project, the controversial Pangue Dam in Chile, and examines how transnational environmental advocacy networks (TEANs) pushed for IFC to have its own environmental and social safeguard policies and information disclosure.

Keywords: IFC; environmental debates; loans and guarantees; World Bank; economic growth; poverty alleviation; Pangue Dam; TEANs; environmental policies; social safeguard policies

Chapter.  20237 words. 

Subjects: Environment

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