GHANA THE SECOND COUNTRY AFTER PHILIPPINES TO BE BRIEFED BY WORLD BANK ON NEW POLICY

ACCRA, Feb 28 (NNN-GNA) — Ghana has been selected as the first borrower country in Africa, and second in the world after the Philippine, to be briefed by the World Bank on its new Environmental and Social Framework (ESF) policy.

The ESF sets out the World Bank’s commitment to sustainable development through a bank policy and a set of environmental and social standards designed to support borrowers’ projects with the aim of ending extreme poverty and promoting shared prosperity in the countries.

In particular, the framework comprises the World Bank’s vision for sustainable development, which sets out its aspirations regarding environmental and social sustainability and the Bank has, therefore, organized the ESF Borrowers Workshop for high-level government officials.

Henry G.R. Kerali, the World Bank Country Director for Ghana, Liberia and Sierra Leone, said here Tuesday the ESF was an important mechanism for protecting people and the environment in project finance but was not a radical departure from existing safeguards.

He said the ESF was developed building on decades of experience with the safeguard policies, good practices and lessons from previous projects and several years of extensive consultations with various stakeholders.

He noted that assessing and managing environmental and social impacts in the World Bank’s investment project finance had been a core concern of the Bank for more than 40 years. — NNN-GNA

Source: NAM News Network

   

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