Who and where are the Equator Banks? - IILJ

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The Equator Principles (Principles) are a set of voluntary guidelines,
drafted by four banks (ABN Amro, Barclays, Citigroup and West LB) with
assistance from the International Finance Corporation (IFC). The Principles
were adopted in June 2003 by 10 banks and by the beginning of 2005 had
been adopted by 28 financial institutions (27 banks and one export credit
agency (ECA)).
The Principles represent an attempt by a group of important banks
influential in the project finance market (Equator Banks) to introduce into
their lending decisions a more structured and rigorous consideration of the
social and environmental impacts of the projects they are being asked to
fund.
An Equator Bank can only lend to projects whose sponsors the bank
considers are able and willing to comply with comprehensive processes to
ensure that projects are conducted in a socially responsible manner and
according to sound environmental management practices.
The Equator Banks apply the Principles to all loans for projects with a
capital cost of $50m or more.
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