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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.
The purpose of MIGA is to encourage the flow of investments for productive purposes. As well as providing guarantees (or insurance) covering qualified foreign direct investment, it also provides technical assistance to governments on ways to attract and retain foreign investment and disseminates information on investment opportunities. This publication shows the impact of its work based on an assessment of 52 projects.
Annotation A Case for Aid: Building a Consensus for Development Assistance is a selection of readings associated with the United Nations International Conference on Financing for Development which was held in Monterrey, Mexico, in March 2002. The focus of the book is the report, 'The Role and Effectiveness of Development Assistance: Lessons from World Bank Experience.' Also included are "A Partnership for Development and Peace, " by James D. Wolfensohn, president of the World Bank Group; "Making the Case for Aid, " by Nicholas Stern, chief economist of the World Bank; and "The Monterrey Consensus, " the official United Nations document that outlines the major agreements at the conference.
Consisting of 192 Member States, the United Nations was founded in 1945 to maintain international peace and security; to develop friendly relations among nations based on the respect for the principle of equal rights and self-determination of peoples; to achieve international cooperation in solving problems of an economic, social, cultural, or humanitarian character; and encouraging respect for human rights and for fundamental freedoms for all without distinction as to race, sex, language, or religion. Just how successful the UN has been in maintaining these goals is covered in The A to Z of the United Nations. Author Jacques Fomerand provides a comprehensive dictionary of nearly 900 cross-referenced entries on the UN's various committees and organizations, its leaders, terms, policies, and major events in which the UN took part. Supplementing the dictionary entries are a chronology, an introduction, a bibliography, and appendixes, which include a reproduction of the UN's Charter and the Universal Declaration of Human Rights, as well as a list of the Member States and when they joined.
In the 1990s, foreign direct investment began to swamp all other cross-border capital flows into developing countries. Does foreign direct investment support sound development? In particular, does it contribute to poverty reduction?
This dissertation analyses developments in the international regulation of foreign direct investment (FDI). The international legal framework of investment encompasses numerous binding or non-binding legal instruments, including customary international law, bilateral investment treaties, and international organizations' decisions and resolutions. The rules established by the international legal framework become effective and significant when they are able to be adapted by appropriate and compatible domestic law frameworks. Through analyzing the Turkish foreign investment regulations and policies, this study concludes that there is a successful and complex interaction between international ru...
This publication is a compilation of reports on research projects initiated, under way, or completed in fiscal year 2001 (July 1, 2000 through June 30, 2001). The abstracts cover 150 research projects from the World Bank and grouped under 11 major headings including poverty and social development, health and population, education, labor and employment, environment, infrastructure and urban development, and agriculture and rural development. The abstracts detail the questions addressed, the analytical methods used, the findings to date and their policy implications. Each abstract identifies the expected completion date of each project, the research team, and reports or publications produced.
The OECD Global Forum on International Investment, at its inaugural meeting in Mexico City in November 2001, provided a unique platform for participants originating from OECD and non-OECD economies to address the challenges posed by FDI. Theseconference papers add to the existing literature on FDI.
MIGA = Multilateral Investment Guarantee Agency
Foreign direct investment and private capital flows are highly concentrated geographically, with almost half of them reaching the top five destinations. These flows tend to evade many high-risk countries, with the exception of those directed to extractive industries. Regulatory and contractual risks, particularly in infrastructure, have inhibited investments in many parts of the developing world. A core objective of the World Bank Group (WBG) has been to support the flow of private investment for development; guarantees and insurance have been among the instruments that the Group has used to p.