WASHINGTON, D.C., October 22, 1998 ---The President of the International Finance Corporation (IFC) and Multilateral Investment Guarantee Agency (MIGA), James D. Wolfensohn, has announced the appointment of a six-person search committee to identify candidates for the organizations' new environmental and social Compliance Adviser/Ombudsman (CAO).
IFC and MIGA have decided to create the position of CAO as an additional pillar in building a credible and responsive structure to ensure that projects are environmentally and socially sound and enhance IFC's and MIGA's contribution to sustainable development. It also constitutes a significant step forward in terms of improved public accountability for IFC and MIGA. Appointment of the CAO, which is expected to occur early in 1999, will build on IFC's and MIGA's enhanced internal capacity and recently strengthened environmental, social and disclosure policies and procedures.
The Search Committee's membership is drawn from the private sector and non-governmental organizations of both developed and developing countries. The members of the committee are:
--Mr. Bjorn Stigson of Sweden, President of the World Business Council for Sustainable Development. Mr. Stigson will serve as chairman of the Search Committee;
--Mr. S. Babar Ali of Pakistan, President of World Wildlife Fund International;
--Ms. Maria Emilia Correa of Colombia, Executive Director, Colombian Business Council for Sustainable Development;
--Sir Martin Holdgate of the United Kingdom, Chairman of the International Institute for Environment and Development;
--Mr. David Hunter of the United States, Senior Attorney and Vice President for Programs, Center for International Environmental Law; and
--Ms. Adele Simmons of the United States, President of the John D. and
Catherine T. MacArthur Foundation.
"I am extremely pleased that this distinguished and diverse group of individuals has agreed to serve and help us identify the strongest possible candidate for the Compliance Adviser/Ombudsman post at IFC and MIGA," Wolfensohn said. "We need someone with sound judgment, problem-solving experience, and strong credentials in the environment and social area. Someone who will help address the concerns and complaints of people affected by IFC and MIGA supported projects. Just as importantly, this individual needs to have a full understanding of how things work in the business world, the constituency with whom IFC and MIGA interact. I want someone who can give me his or her independent judgment and practical recommendations."
Mr. Stigson added, "I am looking forward to working with the other members of the Search Committee and Mr. Wolfensohn to come up with the best possible candidate. The right person can make a significant contribution to the development effectiveness of IFC and MIGA. In fact, we have already started the identification process. I would encourage the business community and NGOs in particular to provide myself or other members of the Committee with the name(s) of individuals they think have the right credentials for the job."
In addition to assisting in dispute resolution and providing an outlet for potentially affected local communities, the CAO will provide input and advice to management on policies and procedures, and liaise with NGOs and the business community. The CAO will report directly to Mr. Wolfensohn.
Those wishing to suggest possible candidates for the IFC/MIGA CAO position may fax or e-mail their suggestion to members of the Search Committee in care of Shawn Miller, Secretary, Search Committee, via fax (202) 974-4389 or e-mail to SMiller1@ifc.org.
IFC and MIGA, as member institutions of the World Bank Group, focus their operations on developing member countries. IFC provides loan and equity financing, mobilizes capital and provides technical assistance and advice in support of private sector enterprises and development. MIGA seeks to encourage the flow of foreign direct investment to the developing world through the provision of investment guarantees against political risk and advisory services to developing member countries.
For more information about IFC's environmental and social and disclosure policies and procedures, please go to the IFC web site, www.ifc.org/enviro
