Originally published May 2006
River deep, mountain high – the spread of Equator
In March the 41 Equator Banks (http://www.equator-principles.com/principles.shtml) released a new version of the Equator Principles for consultation. The updated text is due to apply from July 2006.
The Equator Principles draw substantially from the guidelines and policies of the IFC (http://www.ifc.org/) and the revision has been triggered by a major policy review by the IFC. The now global reach of the Equator Banks means that the effect of that revision will be felt far beyond Washington. The vast majority of commercially financed projects involve some Equator Banks.
It is essential therefore for any project sponsor to understand and take account of the requirements of the Equator Principles. In particular:
