Published: March 14, 2019
After more than a year of consultations, the European Bank for Reconstruction and Development (EBRD), the multilateral lender for central and eastern Europe and North Africa, is publishing updated policies to govern the way it operates from 2020.
After more than a year of consultations, the European Bank for Reconstruction and Development (EBRD), the multilateral lender for central and eastern Europe and North Africa, is publishing updated policies to govern the way it operates from 2020.
The Bank held eight public meetings attended by 300-400 people and received 600 submissions for its review of three key policies — the Environmental and Social Policy (ESP), Project Complaint Mechanism (PCM), and Public Information Policy (PIP).
The policies need to be updated every five years and were last revised in 2015, meaning the bank had to get them agreed by this year’s annual meetings in Sarajevo in May, according to Alistair Clark, Managing Director for Environment and Sustainability.
“You learn lessons and you learn that sometimes the language is not clear enough. Sometimes there is ambiguity and sometimes you have difficulty applying them in a comprehensive manner,” he said. “It is a result of those factors that after five years, it was time for a review.”