PRESS KIT: House Committee on Financial Services hearing on access to information at the World Bank

The full committee hearing addressed the 2009 World Bank Disclosure Policy Review and the role of civil society participation in achieving successful development outcomes.

The following information is intended for press attending or interested in the House Committee on Financial Services hearing on Thursday, September 10, 2009.

Committee hearing details

Who: expert testimony from (links to each individual testimony below):

Professor Joseph E. Stiglitz, Columbia University, recipient of the John Bates Clark Medal and the Nobel Memorial Prize in Economic Sciences, former Senior Vice President and Chief Economist of the World Bank
Professor Alnoor Ebrahim, Harvard Business School, specialist on governance and accountability at the international financial institutions
Dr. Richard E. Bissell, former World Bank and Asian Development Bank inspection panel member, Board member of the Bank Information Center and Executive Director of the Policy and Global Affairs Division at the National Research Council
Ms. Vijaya Ramachandran, Senior Fellow, Center for Global Development
Mr. Thomas S. Blanton, Director, National Security Archive at George Washington University

What: Full hearing of the House Committee on Financial Services – The World Bank’s Disclosure Policy Review and the Role of Democratic Participatory Processes in Achieving Successful Development Outcomes

For webcast of the hearing, please see the House Committee on Financial Services website.

When: Thursday, September 10, 10:00 A.M.
Where: 2128 Rayburn House Office Building

Contact:

Bruce Jenkins, Policy Director, Bank Information Center bjenkins@bicusa.org, 202-624-0620
Rebecca Harris, Information Services Coordinator, Bank Information Center rharris@bicusa.org, 202-624-0632

Background

This hearing reviewed the Bank’s proposed new information disclosure policy and examine how the lack of direct democratic accountability at multilateral institutions like the World Bank makes it necessary that other control mechanisms – such as increased and timely access to Bank documents, greater parliamentary oversight, and broad public debate about the Bank’s development policies – be put in place to ensure that broad, global international interests are being promoted. The hearing also looked at the central role of transparency in any effort to successfully reform the Bank, both with respect to improvements in its internal governance structure as well as its poverty reduction programs on the ground.

Sponsoring Organization Fact Sheet

The Bank Information Center (BIC) partners with civil society in developing and transition countries to influence the World Bank and other international financial institutions (IFIs) to promote social and economic justice and ecological sustainability. BIC is an independent, non-profit, non-governmental organization that advocates for the protection of rights, participation, transparency, and public accountability in the governance and operations of the World Bank, regional development banks, and IMF.
The Carter Center, in partnership with Emory University, is guided by a fundamental commitment to human rights and the alleviation of human suffering; it seeks to prevent and resolve conflicts, enhance freedom and democracy, and improve health.
Center for International Environmental Law (CIEL) is a nonprofit organization working to use international law and institutions to protect the environment, promote human health, and ensure a just and sustainable society. They provide a wide range of services including legal counsel, policy research, analysis, advocacy, education, training, and capacity building.
Oxfam America is a Boston-based international development and relief agency and an affiliate of Oxfam International. Working with local partners, Oxfam delivers development programs and emergency relief services, and campaigns for change in global practices and policies that keep people in poverty.
Revenue Watch Institute (RWI) is a non-profit policy institute and grantmaking organization that promotes the responsible management of oil, gas and mineral resources for the public good. With effective revenue management, citizen engagement and real government accountability, natural resource wealth can drive development and national growth. RWI provides the expertise, funding and technical assistance to help countries realize these benefits.
Transparency International-USA works at home and abroad to combat corruption and promote transparency and integrity in government, business and development assistance.
World Wildlife Fund (WWF) has been protecting the future of nature for more than 45 years. The world’s leading conservation organization, WWF works in 100 countries and is supported by 1.2 million members in the United States and close to 5 million globally. WWF’s unique way of working combines global reach with a foundation in science, involves action at every level from local to global, and ensures the delivery of innovative solutions that meet the needs of both people and nature.