Extractive Industries and Sustainable Development An Evaluation of the World Bank Group's Experience

by Liebenthal, Andres; Michelitsch, Roland; Tarazona, Ethel

• ISBN13: 9780821357101
• ISBN10: 0821357107
• Format: Paperback
• Copyright: 2005-06-10
• Publisher: World Bank Publications
• More Book Details

Summary

The World Bank Group (WBG) has the potential to improve the contribution of extractive industries (EI) to sustainable development and poverty reduction. However, this report by the WBG's operations evaluation departments finds that although its EI projects have produced positive economic and financial results, it has not been successful in ensuring compliance to environmental and social safeguards. The paper examines the World Bank, the International Finance Corporation and Multilateral Investment Guarantee Agency, to assess their performance in moving away from a focus on economic benefits towards sustainable development, addressing the governance challenges associated with resource-rich countries, and mitigating environmental and social costs of the extractive industry.

Table of Contents

Background and objective	p. 1
From economic benefits to sustainable development	p. 5
Addressing the governance challenge	p. 11
Recommendations	p. 13
World Bank Group final management response
Chairman's Summary Committee on Development Effectiveness (CODE)
Operations Evaluation Department evaluation of World Bank experience
World Bank experience
IFC's experience
MIGA's experience
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