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.”
