Washington, DC. July 9, 2003.—The International
Finance Corporation (IFC), the private sector arm of the World Bank Group,
provided a grant to help implement a program that will encourage volunteer
action and corporate social responsibility among members of the Federation
of Industries of the State of Minas Gerais (FIEMG).
The grant provided by IFC, of up to US$30,000, will be implemented in a
pilot program that will involve 50 companies and 150 volunteers from a
specific region of Minas Gerais, reaching 20 municipalities, home to nearly
500,000 inhabitants. If successful, it will be later expanded and replicated
in the remaining 10 regions of Minas Gerais, reaching a total of 500 companies
and 1500 volunteers, and potentially benefiting 5 million people.
The project, sponsored by FIEMG –through the Corporate Citizenship Council
and the Voluntários das Gerais, a key local volunteer action group-
will encourage social initiatives and will provide instruments for direct
articulation of companies, civil society and local communities.
“This project follows IFC’s recent partnerships with Instituto Terra
and Poema in Brazil, which, in addition to fit with our mission of promoting
sustainable development, introduce new schemes of IFC’s collaboration
with the private sector and the communities where they operate’, said
Bernard Pasquier, IFC’s Director for Latin America and the Caribbean.
“We hope this project will encourage other Brazilian institutions and
companies to incorporate social responsibility in their strategic
Using the know-how of corporate volunteer action program management and
the methodology developed by the Voluntários das Gerais, this project
will train a pool of instructors and company employees capable of promoting
the engagement of companies in social programs. The desired change is to
incorporate corporate social responsibility at all levels of the companies,
management and employees.
FIEMG represents 130 corporate unions from the industrial sector of Minas
Gerais, and operates through 11 regional branches distributed all over
the state, and includes 19,509 companies in its membership. FIEMG’s multiplying
capacity with its efficient network of channels will be critical
to providing instruments and tools for direct articulation between businesses
IFC's mission (www.ifc.org) is to promote sustainable private sector investment
in developing countries, helping to reduce poverty and improve people's
lives. IFC finances private sector investments in the developing world,
mobilizes capital in the international financial markets, helps clients
improve social and environmental sustainability, and provides technical
assistance and advice to governments and businesses. From its founding
in 1956, IFC has committed more than $34 billion of its own funds and arranged
$21 billion in syndications for 2,825 companies in 140 developing countries.
IFC's committed portfolio at the end of FY02 was $15.1 billion with an
additional $6.5 billion held for participants in loan syndications.