Original disclosure @ IFC website
Updated in EWS Sep 16, 2019
Disclosed by Bank May 8, 2019
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Component 1: The project will support new and existing clients to enhance their E&S performance, providing technical solutions to complex E&S challenges based on IFC's Performance Standards; and helping clients to adopt robust E&S management systems that ensure management and oversight of environmental, health and safety and other risks at the right level.
As a result, high-risk clients across a range of sectors will implement recommendations to improve their ESG performance and the project will help unlock new investments.
Component 2: The project will support the enabling environment for good E&S practices in the private sector by:
(a) strengthening local intermediaries to provide effective support to local firms on E&S practices; and
(b) furthering effective government oversight through Environmental Conservation Department/ Ministry of Natural Resources and Environmental Conservation (ECD/MONREC)’s improved ability to effectively implement and manage the EIA process with the quality and timeliness required by EIA procedures adopted in 2015.
This work will be carried out in-line with the Environmental Sector Working Group which both WB and IFC participate in as well as the Sub-Committee EIAs. A coordinated approach to supporting ECD/MONREC is underway. ECD/MONREC will have identified operational, resourcing and administrative bottlenecks to effectively conducting EIA systems and developed a roadmap to strengthen these systems.
Component 3: The project will build the knowledge of broader private sector and other stakeholder groups in Myanmar on key environmental and social challenges, solutions, and good management practices, with a focus on power, infrastructure, agriculture, and tourism sectors.
Participants to IFC sponsored events will report increased knowledge of E&S issues and 2-3 guidance notes will be published on the level of inquiry clients will need to apply in line with the IFC’s Performance Standards and investment risks.
*There is no further information being disclosed at this stage of the project*
ACCOUNTABILITY MECHANISM OF IFC
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