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Issue 51
July , 2014
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World Bank reviewing rules to protect environment

Source: The Hindu Business Line, Date: July , 2014

The World Bank is set to revise its safeguard policies for lending, which, if implemented, will ensure that the projects that the Bank is funding follow norms to protect environment and vulnerable communities. But, the civil rights organisations feel that the draft, which has been leaked earlier this month, is diluting the existing norms of the Bank and has the potential of impacting indigenous and vulnerable communities, besides diluting environmental protection rules. The Bank’s Committee on Development Effectiveness (CODE) of the Board of Executive Directors is expected discuss this draft on Wednesday. When contacted by Business Line, World Bank spokesperson said the “safeguard policies are at the center of our efforts to protect people and the environment and to achieve our goals to end extreme poverty and promote shared prosperity in a sustainable manner.”

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http://www.thehindubusinessline.com/industry-and-economy/banking/world-bank-reviewing-rules-to-protect-environment/article6265037.ece

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