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"The Environmental Impacts Of International Finance Corporation Lending And Proposals For Reform: A Case Study Of Conservation And Oil Development In The Guatemalan Petén", Ian A. Bowles, Amy B. Rosenfeld, Cyril F. Kormos, Conrad C.S. Reining, James D. Nations, Thomas T. Ankersen
"The Environmental Impacts Of International Finance Corporation Lending And Proposals For Reform: A Case Study Of Conservation And Oil Development In The Guatemalan Petén", Ian A. Bowles, Amy B. Rosenfeld, Cyril F. Kormos, Conrad C.S. Reining, James D. Nations, Thomas T. Ankersen
UF Law Faculty Publications
This Article presents a case study of lending by the International Finance Corporation (IFC), the private-sector lending arm of the World Bank Group, in the oil and gas sector in Guatemala. The case study emphasizes the need for additional environmental reform at IFC. With two separate loans in 1994 and 1996, IFC supported the activities of a small international oil company that was operating within a national park in the northern Guatemalan Petdn, an area of rich tropical forests and globally important wetlands. The company's operations had been "grandfathered"in to the park upon its creation in 1990. Funding from IFC …