Greater account is to be taken of the need for the protection of people and the environment in World Bank-funded projects in the Caribbean under a new initiative funded by the Bank and announced last week.
The Bank says its Board of Executive Directors approved what it is calling the new Environmental and Social Framework, concluding almost four years of analysis and engagement worldwide with governments, development experts and civil society groups in 63 countries.
World Bank Group President Jim Yong Kim is quoted as saying that the new safeguards will build into Bank-funded projects “updated and improved protections for the most vulnerable people in the world and our environment,” by substantially increasing the “financing of the safeguards.”
The Bank official says that enough funding will be provided “for both implementation and building capacity in countries so that they can a play a more active role in protecting people and the environment.”
The new Environmental and Social Framework introduces critical labour and working conditions protection community health and safety measures that address road safety, emergency response and disaster mitigation and a responsibility to include stakeholder engagement throughout the project cycle. These elements are frequently lacking in project execution processes in the Caribbean.
The Bank believes that the new framework will enable its projects to promote better and lasting development outcomes, provides broader coverage and access and benefit more people, particularly vulnerable and disadvantaged groups. In this regard the Bank says that it will also be seeking to strengthen partnerships with other multilateral development banks, development partners, and bilateral donors. The framework is expected to go into effect in early 2018 and, according to the Bank will bring its environmental and social protection regime into closer harmony with those of other development institutions, and makes important advances in areas such as transparency, non-discrimination, social inclusion, public participation, and accountability – including expanded roles for grievance redress mechanisms.
Substantially increased funding for the safeguards is intended to meet additional oversight demands, the Bank says.
