Safeguards in Different Financing Modalities
12 January 2022, 10:00 a.m., Manila (GMT +8) / 2:00 p.m., Fiji (GMT +12)
Register here for Consultation with Governments, Civil Society Organizations and other Non-Governmental Stakeholders in East Asia, Pacific, and Southeast Asia
12 January 2022, 10:00 p.m., Manila (GMT +8) / 10:00 a.m., Washington DC (GMT –4) / 4:00 p.m., Frankfurt (GMT +2)
Register here for Consultation with Governments, Civil Society Organizations and other Non-Governmental Stakeholders in North America and Europe
13 January 2022, 5:00 p.m., Manila (GMT +8) / 2:00 p.m., Pakistan (GMT +5) / 2:30 p.m., India (GMT +5:30)
Register here for Consultation with Governments, Civil Society Organizations and other Non-Governmental Stakeholders in South Asia and Central and West Asia
ADB is organizing a regional consultation on Safeguards in Financing Modalities. The session will discuss the lessons learned from the challenges and good practices in the application of safeguard requirements for different types of financing modalities projects supported by ADB and partners.
The 2009 Safeguard Policy Statement applies to all ADB-financed and ADB-administered sovereign or non-sovereign projects, regardless of the source and means of financing. The ADB also has guidelines for different financing modalities and allow some flexibility in the adoption of safeguard requirements, such as the use of frameworks for emergency assistance projects, arrangements for establishing the environmental and social management system prior to the first disbursement for projects channelled through financial intermediaries, and a few others. In the 2014 operational review by the Independent Evaluation Department, it concluded that while a proper system for avoiding or mitigating the environmental and social risks of ADB supported projects is in place, there were noted gaps in safeguard due diligence and reporting in projects or investments using some fund instruments.