Meg Taylor Appointed First IFC/MIGA Compliance Advisor / Ombudsman (CAO)

Meg Taylor Appointed First IFC/MIGA Compliance Advisor / Ombudsman (CAO)
Wolfensohn Appointment Designed to Enhance Public Accountability and Improve Environmental and Social Performance for Private Sector Institutions

Washington, D.C., April 19, 1999 — World Bank Group President James D. Wolfensohn has appointed Ms. Meg Taylor as the first Compliance Advisor/Ombudsman for the International Finance Corporation (IFC) and Multilateral Investment Guarantee Agency (MIGA). Ms. Taylor, through her role as CAO, will help address the concerns of local communities who may be adversely affected by an IFC or MIGA supported project and advise senior management on issues arising from their environmental, social and information disclosure policies. The newly created vice presidential-level post, the first of its kind in a multilateral development institution, will report directly to President Wolfensohn.

The appointment of Ms. Taylor as CAO is an outcome of efforts by IFC and MIGA, their shareholders, NGOs and members of the business community to find a workable and constructive approach to dealing with environmental and social concerns and complaints of people directly impacted by IFC and MIGA projects. The CAO's role will include an informal advisory function as well as that of reviewing complaints that IFC or MIGA have violated their environmental, social and/or disclosure policies and procedures. Fundamental to the role of the CAO is its practical and solution-driven orientation that is designed, whenever possible, to achieve a positive outcome for the locally impacted community and the private sector project sponsor.

Ms. Taylor, a national of Papua New Guinea, received her LL.B. degree from Melbourne University, Australia in 1974 and her LL.M. degree from Harvard University in 1986. She practiced law for many years in Papua New Guinea and served as a member of the Law Reform Commission. She represented Papua New Guinea as its Ambassador to the United States in Washington, DC from 1989 to 1994, and was also accredited to Mexico and Canada. She is co-founder and Chairperson of Conservation Melanesia, a community-based conservation organization working with communities on terrestrial and marine issues, and is presently a board member of the World Wildlife FundUSA and of the World Resources Institute. She has been a member of the World Forestry Commission and has carried out a number of environmental and social reviews as a consultant. In addition, Ms. Taylor is a member of the board of several private sector companies in Papua New Guinea in the natural resources, financial and agricultural sectors.

Ms. Taylor was appointed by President Wolfensohn following her identification as a leading candidate for the post by an independent six-member external Search Committee. The Committee included: Mr. Bjorn Stigson (Chair), President, World Business Council for Sustainable Development; Mr. Babar Ali, President, World Wide Fund for Nature (WWF) -- International; Ms. Maria Emilia Correa, President, Colombian Business Council for Sustainable Development; Sir Martin Holdgate, Chairman, International Institute for Environment and Development; Mr. David Hunter, Vice President for Programs, Center for International Environmental Law (CIEL); and Ms. Adele Simmons, President, The John D. and Catherine T. MacArthur Foundation.

Ms. Taylor is expected to assume the CAO position in June.

IFC and MIGA, as member institutions of the World Bank Group, focus their operations on developing member countries. IFC provides loan and equity financing, mobilizes capital and provides technical assistance and advice in support of private sector enterprises and development. MIGA seeks to encourage the flow of foreign direct investment to the developing world through the provision of investment guarantees against political risk and advisory services to developing member countries