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- W2341510428 abstract "Beginning in the late 1970s, independent observers began to criticize the World Bank and other international financial institutions for supporting some of the most environmentally damaging projects occurring in developing countries. These, mostly large, infrastructure projects were often associated with allegations of severe environmental damage, human rights abuses, and long-term negative effects on the economic well-being of the poor in project areas. Even assuming good intentions, the size and scale of many of the projects simply dwarfed the legal and policy infrastructure of the borrowing country. 1 Moreover, the top-down model of development and poverty alleviation that reflected the Bank’s operations was soundly discredited by the 1992 Earth Summit’s endorsement of environmentally sustainable development. The concept of sustainable development, with its emphasis on the integration of environment and development, its recognition of the importance of human rights and governance issues to development, and its priority given to local participation in development decisions, presented new and broad challenges to World Bank operations. In response to both the practical and the conceptual challenges presented by the global environmental movement, leading up to and following the Earth Summit, the Bank took a number of steps to position itself as a leader in environmentally sustainable development. Among the most significant were the development of a policy framework for environmental protection, public participation, and some social issues; the creation of accountability mechanisms, including the World Bank Inspection Panel and the ombudsman at the International Finance Corporation (IFC) and Multilateral Investment Guarantee Agency (MIGA); an increase in the number and status of environmental professionals working at the Bank; a proactive effort to be the primary financier of global environmental protection activities in developing countries; and an increase in the amount and visibility of environmental projects, including technical assistance support. As a result of these changes, World Bank officials now maintain that their environmental problems are in the past." @default.
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- W2341510428 date "2001-01-01" @default.
- W2341510428 modified "2023-09-27" @default.
- W2341510428 title "The World Bank: A Lighter Shade of Green?" @default.
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