world bank group annual meetings 2008 compliance advisor/ombudsman (cao) thursday october 9, 2008...
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WORLD BANK GROUP ANNUAL MEETINGS 2008 Compliance Advisor/Ombudsman (CAO) Thursday October 9, 2008 9.30-11.00AM, MC C1-200. Our approach. Distribution of project risks and benefits underlie many concerns/ complaints to the CAO - PowerPoint PPT PresentationTRANSCRIPT
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WORLD BANK GROUP ANNUAL MEETINGS 2008
Compliance Advisor/Ombudsman (CAO)
Thursday October 9, 20089.30-11.00AM, MC C1-200
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Our approach
Distribution of project risks and benefits underlie many concerns/ complaints to the CAO
Potential for IFC/MIGA to pay more attention to local development impacts to enhance project outcomes
The role of a financial institution presents opportunities and limitations
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1. What does local development impact mean to you?
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What does development impact mean…
…For workers, families, suppliers, business owners, customers:
Employment Supply chain/procurement Community development funds Local capital (e.g. infrastructure, health, training)
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2. What are the opportunities?
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Opportunities
Build strong corporate-community relationships
Create benefits = reduce conflict Shared value
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3. What are the obstacles?
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Obstacles
Confidentiality of business-related information
Flexibility and managing expectations IFC/MIGA v. client reporting
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4. What are the opportunities for implementing local DI
reporting at IFC/MIGA?
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Help companies engage with communities
e.g. guidance on indicators & processes
Improve reporting around significant impact projects
Integrate E&S impact assessment with economic analysis
Address DI in strategy & staff/management incentives
Our recommendations
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5. Next stepsHow can we encourage implementation of
these recommendations?
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www.cao-ombudsman.org