6 FIDIC Contract Users’ Newsletter
FIDIC launches new International Financial Institutions Committee A new committee and advisory group is set to improve the effectiveness and visibility of FIDIC’s work with the international financial institutions and multilateral development banks. FIDIC has launched a new International Financial Institutions Committee (IFIC) as part of a significant strengthening and upgrading of its committee structure and international external affairs and stakeholder relations capability. The new committee is an important development ion the contracts arena as it will improve FIDIC’s liaison and influencing with international financial institutions (IFIs) like the multilateral development banks and other international funding agencies which have an important influence on
Issue 6 - August 2020
the global infrastructure sector. The committee is set to play a key role in FIDIC’s work with IFIs and related organisations in the development of policies, guidelines and processes to improve financial management, procurement and to enable implementation of innovations and best practice. Commenting on the setting up of the new committee, FIDIC chief executive Dr Nelson Ogunshakin said: “The launch of our new International
Financial Institutions Committee is part of a detailed and thorough review of FIDIC’s public engagement work where we have sought to ensure that our committees and other representative bodies better reflect geographic diversification and have the right skills set to be more effective in a changing marketplace. Competition was stiff to sit on these revamped committees, with over 350 industry experts from around the world applying to be members. “The new IFI committee, in common with a number of other
