The World Bank’s private sector lending arm, the International Finance Corporation, has issued a new disclosure policy.

The policy, approved May 12 and effective Jan. 1, 2012, is part of a larger package known as the “Sustainability Framework.”

The Sustainability Framework revises IFC policies on many topics – including environmental and social polices  – and was developed through a series of proposals and consultations over two years. The access to information policy is separate from the World Bank policy that became effective in mid-2010.

The IFC says the new policy will expand access to information about IFC projects. The IFC prepared a series of five “frequently asked questions” on its draft policy, and its responses. The information is on the IFC website here.

In general, under the IFC policy the clients receiving IFC support are responsible for making disclosures.

For projects that require a Supplemental Action Plan, the IFC said that it will disclose a report on the implementation of the plan prepared by the client.  The IFC’s comments on the plan, however, will not be disclosed.

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Filed under: IFTI Watch