Washington D.C., November 25, 2002
—The International Finance Corporation, the private sector arm of the World Bank, today published a comprehensive Good Practice Note on HIV/AIDS in the Workplace.
The Good Practice Note is an introduction to the issue of HIV/AIDS in the workplace and is targeted at the private sector in developing countries. IFC has been working with companies in a number of countries to identify and address the multiple impacts of HIV/AIDS to their business. As part of IFC’s ongoing commitment to sustainable development, the note seeks to provide companies with practical guidance and a range of options, based on corporate experiences, for designing and implementing prevention and care programs in support of employees and the communities in which they work and live.
Businesses feel the impact of HIV/AIDS most clearly through their workforce, with direct consequences for a company’s bottom line. These include increased expenditures on medical and health insurance costs, funeral costs and death benefits, as well as recruitment and training needs due to lost personnel. In addition, firms experience other financial impacts as a result of higher absenteeism and staff turnover, reduced productivity, declining morale and a shrinking consumer base. While a company’s revenues decrease, its costs of doing business increase because its suppliers, distributors and the public sector are also affected, leading to similar disruptions in the supply chain.
In Angola, Odebrecht, the Brazilian construction company earmarked US$1 million dollars of the $280 million IFC corporate loan extended to them in 2002 to support efforts related to the fight against AIDS. Together IFC and Odebrecht launched an education, prevention and care program targeted at 30,000 people in the communities of Odebrecht’s Angolan operations. By placing an emphasis on women’s health and prevention of HIV transmission from mother to infant and assessing the provision of anti-retroviral therapy in the company’s sites, this program further contributes to the overall AIDS strategy of Angola.
Developed by the Environment and Social Development Department of IFC and the “IFC Against AIDS” program, HIV/AIDS in the Workplace is the second in a series of Good Practice Notes designed to promote learning and sharing of best practice experience among IFC clients and the wider private sector.
IFC’s mission is to promote sustainable private sector investment in developing countries, helping to reduce poverty and improve people's lives. IFC finances private sector investments in the developing world, mobilizes capital in the international financial markets, and provides technical assistance and advice to governments and businesses. Since its founding in 1956 through FY02, IFC has committed more than $34 billion of its own funds and arranged $21 billion in syndications for 2,825 companies in 140 developing countries. IFC's worldwide committed portfolio as of FY02 was $15.1 billion for its own account and $6.5 billion held for participants in loan syndications.
For more information about IFC’s work with companies on AIDS or to arrange an interview, please contact Sabine Durier at Tel: 202-473-4176 Email: ifcagainstaids@ifc.org or for the document -
http://www.ifc.org/enviro/HIVAIDS_web.pdf
