Draft IDB Environment Policy Below World Bank Standard

Lima, PERU – A report released today by the Asia Pacific Environmental Exchange (APEX) shows the IDB draft environment policy to be significantly below the standards set by the World Bank, Asian Development Bank and European Bank for Reconstruction and Development. “Failing Grades : A Report Card on the Inter-American Development Bank's Environmental and Safeguard Compliance Policy – Advance Profile” details flaws in the draft policy.

“Overall, the IDB draft policy lacks specific enforceable requirements,” said Elizabeth Barclay , APEX Attorney. “The future will hold more disasters like the Camisea gas project in Peru if the IDB does not strengthen the policy with clear, binding requirements.”

The IDB Board of Governors mandated the IDB Executive Directors and management to adopt and implement an improved environment policy at the 8 th Replenishment in 1994. While peer institutions approved and implemented stronger policies, the draft IDB policy is yet below the standards set by peer institutions.

“Environmental and social safeguards are a necessary part of due diligence. It's basic banking. Project success, poverty reduction and enduring development depend upon effective safeguards,” said David Batker, APEX Director. “The IDB management and board can exceed current norms. The IDB implemented policies and actions to stem internal corruption, demonstrating leadership. The IDB needs to move from laggard to leader on environmental and social safeguards.”