Transparency for Impact : Lessons from IFC Projects in Peru’s Natural Resources Sector
The natural resources sector, particularly the mining industry, has been a significant part of Peru’s economic growth over the past decade. The law mandates that the national government transfer half of the income taxes paid by mining companies to...
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| Language: | English |
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International Finance Corporation, Washington, DC
2020
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| Online Access: | http://documents.worldbank.org/curated/en/527781580987100094/Transparency-for-Impact-Lessons-from-IFC-Projects-in-Peru-s-Natural-Resources-Sector http://hdl.handle.net/10986/33298 |
| Summary: | The natural resources sector,
particularly the mining industry, has been a significant
part of Peru’s economic growth over the past decade. The law
mandates that the national government transfer half of the
income taxes paid by mining companies to regional and local
governments. This transfer of funds represents a significant
opportunity to respond to the needs of local communities and
lift them out of poverty. The Peruvian law of transparency
and access to public information lays out mandatory
compliance rules for public authorities and officials. It
requires public entities at the national, regional, and
municipal levels to deliver, in a timely manner, information
requested by people and entities and to provide adequate
infrastructure to systemize and publish public information.
International Finance Corporation (IFC) identified five
groups of stakeholders that were key in promoting
transparency and accountability: authorities and municipal
officials; local leaders; surveillance committees of the
participatory budgeting process; the media; and the general
population. Implementation of IFC’s transparency and
accountability projects in Peru generated a wealth of
information, experience, recommendations, and lessons that
will be useful when designing and implementing future interventions. |
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