International Finance Corporation

Local communities file complaint with IFC over PMIZ and SEZ laws

On 12 Jul, 2011 By rait man With 2 Comments

PMIZ Watcher

Local communities affected by the proposed Pacific Marine Industrial Zone in Madang have filed a formal complaint in Washington about the role of the International Finance Corporation in promoting the project and in developing Special Economic Zone laws in PNG.

The communities have filed their complaint with the International Finance Corporation Ombudsman. The IFC is a part of the World Bank Group which is based in the United States.

Media Release: IFC operating under a cloak of secrecy on SEZ laws for PNG

On 10 Jun, 2011 By Effrey

9 June, 2011

Operating under a cloak of secrecy, the International Finance Corporation has been busy developing laws to allow Special Economic Zone laws in Papua New Guinea, while failing to answer questions from civil society about the project.

This secrecy contradicts IFC claims that it is committed to transparency, accountability and sharing information 'to strengthen public trust'.

IFC refuses to answer questions on SEZ laws for Papua New Guinea

On 09 Jun, 2011 By Effrey With 2 Comments

The International Finance Corporation, a division of the World Bank, has failed to provide details about its development of Special Economic Zone laws for Papua New Guinea.

Community advocacy organisation ACT NOW! had asked the IFC office in Papua New Guinea for further details about the development of the SEZ laws but its questions have not been answered. This is despite the IFC claiming it is committed to transparency and accountability and sharing information 'to strengthen public trust'.

Chinese push for SEZ laws on Bougainville

On 08 Jun, 2011 By rait man With 4 Comments

Reporter Stephanie Elizah says a team of Chinese investors who have been visiting Bouginville are pushing the Autonomous Region's government to allow the establishment of Special Economic Zones.

SEZs are tax free enclaves where businesses are also exempted from normal labour, immigration and environmental laws.

The Chinese government is currently negotiating a loan with the PNG government to build the infrastructure for PNG's first SEZ, the Pacific Marine Industrial Zone, in Madang.

Even the World Bank says IFC failing to help the poor

On 14 May, 2011 By rait man

The International Finance Corporation (IFC), part of the World Bank group, is drafting laws in Papua New Guinea to create Special Economic Zones - tax free enclaves where foreign corporations will receive special incentives to set up factories - but the World Bank's own Independent Evaluation Group (IEG), its internal watchdog, has published an evaluation which finds the IFC is failing in its mission to assist vulnerable communities and alleviate poverty through its projects and investments.

World Bank plays important role in global land grab

On 06 Apr, 2011 By tok stret

A new report details the role of the International Finance Corporation, a branch of the World Bank, in promoting the growing global trend of large-scale land investments in developing countries by wealthier, food-insecure nations and private investors.

Take Action: Say no to World Bank sponsored sweat-shops in PNG

On 16 Mar, 2011 By Effrey With 2 Comments

The World Bank is on a mission to encourage sweat-shop style factories in Papua New Guinea and we need to tell them NO!

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