EPFI Engagement in the IFC Performance Standards Review Process

08 September 2009

On 8 September 2009, the International Finance Corporation (IFC) launched the process to review and update its Performance Standards. The process is expected to last until October 2010 and the updated framework to be released by January 2011. The IFC Performance Standards Review Process is extremely important for the Equator Principles and all EPFIs as it will define the Standards applied by the Equator Principles in the coming years. As part of the Phase 1 initial consultation process between IFC and key stakeholders, the EPFI Steering Committee and other EPFIs actively participating in some of the EP Working Groups, met with IFC representatives in London on 12 October 2009. The purpose of the meeting was to hold an informal discussion on some of the key issues and challenges for the upcoming IFC Performance Standards Review Process. The EPFIs will continue to be closely engaged with the IFC, civil society, clients, and other stakeholders during the Performance Standards Review Process, and we look forward to sharing valuable experience and insight.

 

NEW RESOURCE: Guidance to EPFIs on Incorporating Environmental and Social Considerations into Loan Documentation

03 August 2009

The EPFI Best Practice Working Group is pleased to share a new deliverable: "Guidance to EPFIs on Incorporating Environmental and Social Considerations into Loan Documentation".This guidance document has been prepared for use by the EPFI network. In order to increase our transparency, and to share such best practice with the broader financial and legal communities active in project finance, and civil society stakeholders, the full text of the guidance note is downloadable below.

Please note that the document is not to be viewed as a required legal framework, but rather a guidance document to assist EPFIs in incorporating environmental and social considerations into project finance loan documentation, as appropriate. The objective of the Best Practice Working Group is to identify and participate in the development of initiatives aimed at sharing good environmental and social practices among Equator banks and clients.