ISLAMABAD: The World Bank has decided to revise its ‘Environmental and Social Framework’ to transform it into a new strategy to ensure that investment projects it finances do not hurt people or the environment.
Consultations on the proposed framework which builds on the decades-old safeguard policies aim to consolidate them into a more modern, unified framework that is more efficient and effective to apply and implement.
The Committee on Development Effectiveness of the World Bank has issued clearance for the bank to consult publicly on a first draft of a proposal which aims to maintain and build on existing protections to vulnerable and indigenous people, communities, and the environment.
“The Bank’s environmental and social policies are a key to ensure the projects we fund to benefit and protect people and the environment,” said Kyle Peters, Vice President for Operations Policy and Country Services. “The policies we have in place now have served us well, but the issues our clients face have changed over the last 20 years.”
The proposal aims to maintain and build on protections, including the enhanced protection of disadvantaged and vulnerable people, indigenous peoples, and the environment, including provisions for pest management, dam and road safety.
Published in Dawn, August 2nd , 2014
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