CSO letter to the EBRD on the revision of the Good Governance policies related to Financial Intermediaries (FIs)
Photo: European Bank for Reconstruction and Development (CC BY-NC-ND 2.0)
Advocacy letter | 13 March 2019
The undersigned CSOs welcome this opportunity to submit comments on the EBRD’s revision of its environmental and Social Policy, Access to Information Policy and Project Accountability Policy relating to financial intermediary lending. As it was documented and discussed with the bank and its shareholders on many occasions, this form of lending through third parties carries high risks of environmental and social harms due to its ‘hands-off’ nature.
Though there have been several improvements in the revised policies, there are still significant concerns that the proposed policies are not strong enough to prevent harm and ensure accountability to affected communities.