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Implementing the Espoo Convention: an International Financial Institution Perspective

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Chapter Summary

International project finance has played a more significant role in the implementation of the United Nations Economic Commission for Europe (UNECE) Espoo Convention than was originally anticipated by the Convention parties or the Secretariat. This chapter elaborates on the commitment that European Bank for Reconstruction and Development (EBRD) made to the Espoo Convention, the challenge of implementing this commitment, subsequent changes needed to the EBRD Environmental Policy, and the evolution of the role of international financial institutions (IFIs) in Convention information and guidance from 1991 to 2005. The EBRD as always emphasized the importance of adequate disclosure of Environmental Impact Assessment (EIA) documentation. In 2000, the EBRD's Public Information Policy was revised to require Bank staff to use 'best efforts' to obtain full EIA documentation in local languages and to make the project sponsor aware of the benefits of full translation.

Keywords:environmental impact assessment (EIA); environmental policy; Espoo Convention; European Bank for Reconstruction and Development; international financial institutions (IFIs); international project finance; United Nations Economic Commission for Europe



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