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Article

1 Feb 2007

Author:
Steven Herz, Bank Information Center

[PDF] The Role and Responsibilities of International Financial Institutions with Respect to Human Rights and Their Relevance to the Private-Sector

A Submission to the U.N. Special Representative to the Secretary General on Human Rights and Transnational Corporations and other Business Enterprises... This submission to the United Nations Secretary General’s Special Representative...addresses the role and responsibilities of international financial institutions (IFIs) as financiers of private-sector projects that may entail risks of human rights violations... IFIs are public institutions that are owned and controlled entirely by their member governments. They have considerable impact and influence on the ways in which human rights are addressed by private-sector actors... This submission addresses the relevance and responsibilities of IFIs in several parts. Part II explains the importance of IFIs as a financier of high risk projects and as a norm generator for the private sector... Part III discusses the current practices of IFIs with respect to human rights... Part IV details the international law obligations of IFIs... Part V offers some conclusions and recommendations. [refers to ExxonMobil, Nam Theun 2]