The Asian Development Bank (ADB) announced that it is implementing the “Safeguard Policy Statement” that will help mitigate the environmental damages any of its projects might bring. This move was approved by the ADB board last Monday. The said policy has provisions on biodiversity conservation, community health and safety, and physical cultural resources.
ADB Vice-President, Ursula Schaefer-Preuss, also said:
The new policy will enhance the effectiveness, sustainability and development impact of the projects we support, as well as strengthen more generally the safeguard systems of DMCs ( developing member countries) and develop their own capacity to fully manage environmental and social impacts and risks of development projects
ADB in the past has been very vocal in saying that they are providing funding for green projects in the region.
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Category: Environment, Eco Disaster, Financing
