Local revenue management & social accountability around extractive industry projects in Latin America
In response to a specific request of an IFC client in the mining sector, the Enhancing Local Benefits program from the LAC Office for Advisory Services (PEP) initiated an advisory service project on revenue management and social accountability at the sub-national level in 2006. Based on the lessons derived from this pilot experience, two extractive industry-wide advisory service programs are currently under implementation in Peru and Colombia. Together the two programs aim at reaching directly around 70 municipalities that receive benefits due to revenue-sharing arrangements in both countries.
The aim of these programs is to help local communities take advantage of the extractive industry related resources they receive. The programs have been structured in a manner that allows for IFC to collaborate with several oil, gas and mining investment companies, both IFC and non-IFC clients, eager to support local revenue management improvements in their area of influence.