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The World Bank Group initiated a wide consultation and research process to review the role of the Bank’s in the extractive sector. The conclusions and recommendations are published in a Final Report called “Striking a Better Balance”:

According to the report, three conditions are to be implemented to allow extractive industries to contribute to the poverty reduction and sustainable development of a country:

  • A pro-poor public and corporate governance, including proactive planning and management to maximize poverty alleviation through sustainable development;
  • Much more effective social and environmental policies;
  • Respect for human rights.

To achieve better governance, it requires:

  • Companies to engage in consent processes with communities and groups directly affected by projects in order to obtain their free prior and informed consent;
  • Revenue sharing with local communities;
  • The use of poverty indicators that are monitored systematically;
  • The incorporation of public health components in all extractive industry projects;
  • NGOs to build the capacities of affected communities;
  • The settling up of independent grievance mechanisms.

To read an abstract of the report and the World Bank’s Management Response, please visit this page.

Striking a better balance: the Extractive Industries Review

Click on the pictures below to open the various parts of the report.

Volume I Volume II

WB and IE Striking the balance Vol1 WB and IE Striking the balance Vol2

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Volume III Volume IV

WB and IE Striking the balance Vol3 WB and IE Striking the balance Vol4

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Volume V Volume VI

WB and IE Striking the balance Vol5 WB and IE Striking the balance Vol6