Multilateral Development Banking

This work provides a detailed analysis of international environmental legal principles and concepts, as well as public policy criteria of direct relevance to Multilateral Development Bank (MDB) operations in developing member countries. The study describes the international legal and public policy underpinning MDB's pursuit of sustainable development as a strategic development objective which is key not only to the quality of life of inhabitants of the countries concerned, but also to global economic prosperity. The bulk of legal rules, standards and guidelines, as well as of public policy notions, are reduced in this volume to a set of operationally meaningful principles and concepts for multilateral development banking. The book draws from a vast range of source materials and extends from international conventional law (multilateral, bilateral), customary legal principles, Agenda 21 and other formally non-binding instruments or documents, to practices and standards of international financial institutions. The issues addressed include accountability and empowerment (which include access to information, environmental impact assessment, and public participation); the social impact of MDB operations (such as involuntary resettlement, treatment of indigenous populations); the effectiveness of environmental protection measures (such as environmental monitoring and environmental audits); and the impact on certain environmental resources. This overview of the environmental policy objectives and criteria applicable to multilateral development banking should be welcomed by policy-makers, environmentalists, lawyers, scholars, stakeholders in development projects, and many others.