Over the spring and summer in 2017, the “Belt and Road” Forum for International Cooperation and the AIIB’s Second Annual Meeting were successively held. The Forum outlined a new roadmap for global strategy while the latter focused on sustainable strategies for development finance and governance practices at the operational level.
We track the establishment, improvement and implementation of relevant policies of AIIB and New Development Bank to ensure that stakeholders are fully consulted in terms of their information disclosure and governance mechanisms and to maximize environmental and social benefits through development financing process.
On March 23, total number of ADB members reached 70. Moreover, China’s reinforced comprehensive management on capital outbound is a significant trend in the spring of 2017.
This issue probes into the investment priorities and governance model of the NDB by focusing on the appointment of management personnel, cooperation partnerships, first batch of projects and operational policies. Discussed in the current issue are also the ways that the NDB achieves responsible investment and promotes sustainable development, by introducing the environmental and social policies of Multilateral Development Banks(MDBs).
This alert presents information on its first batch of projects, a brief analysis of the final Environmental and Social Framework, as well as commentaries from stakeholders including civil organizations, scholars and commercial bank managers, concentrating on the three standards – “financially sustainable, environmentally friendly and socially acceptable”.
A grievance mechanism is a formal, legal or non-legal (or ‘judicial/non-judicial’) complaint process that can be used by individuals, workers, communities and/or non-governmental sectors that are negatively affected by commercial activities. This issue will focus on the background, significance and international precedents of grievance mechanism setup to make it more accessible and further promote the practice of newly-established development financial institutions in setting up grievance mechanism.
This Alert is to introduce the latest development of AIIB, present opinions and suggestions raised for AIIB Environmental and Social Framework by various stakeholders and civil organizations and provide brief analysis on differences and similarities of safeguards among the current representative development financial institutions.
While the current safeguard policies have served the development community well by protecting the environment and the world’s poor and vulnerable in World Bank investment projects, the world has changed and new and varied development and environmental demands and challenges have arisen over time. The issues the borrowing countries face have shifted dramatically. The World Bank is now in the process of reviewing, updating and strengthening its environmental and social policies to keep pace with the changing times.