The World Bank board's Committee on Development Effectiveness meets on Wednesday to review a new proposal that may change the way the Washington, D.C.-based institution assesses and mitigates the environmental and social impacts of its investments.
Much to the bank’s chagrin, the proposal draft leaked last week and sparked a quick reaction among human rights and environment watchers, who called it “disastrous” for the environment and a “shocking attempt to eviscerate protections for the poor.”
Wednesday’s meeting will not determine whether the proposal becomes official policy, but instead ask for the committee’s agreement to move forward with consultations, including with civil society and NGO representatives. Input from the consultations would then be used “to refine the proposals,” a World Bank spokesperson told Devex.