EDB takes part in the closed meetings of MFI Working Group for Environmental and Social Studies
Almaty, 05 July 2024. Conrad Albrecht, Managing Director and Head for Directorate of Sustainability at the Eurasian Development Bank (EDB) participated in the recent MFI Working Group for Environmental and Social Standards. The meeting, held on May 21-23, 2024 provided a platform for Heads of the Multilateral Financial Institutions (MFIs) to convene and engage in discussions around environmental and social policies and practices.
During the MFI 2024 Spring Meetings at the Asian Development Bank (ADB) headquarters in Manila, Philippines, the closed-end group of E&S Heads of the MFIs gathered to deliberate on current practices, challenges, and opportunities pertaining to E&S policies, safeguards execution and monitoring, ESG integration, and reporting.
Amidst these discussions, the EDB, represented by Conrad Albrecht, gave an institutional update on the implementation of its recently introduced E&S Policy and Safeguards, which became effective in January 2024. The comprehensive discussions encompassed a wide range of topics, including biodiversity conservation, risk management, climate change, resettlement, community engagement, grievance mechanisms, and gender equality. The sessions were highly productive and fostered a collaborative environment for knowledge exchange.
The Multilateral Financial Institutions Working Group on Environmental and Social Safeguards, established in the mid-1990s, convenes biannually to facilitate the sharing of experiences and best practices for promoting common approaches and mutual reliance. This collaborative platform aims to enhance development effectiveness, minimize and mitigate adverse impacts of projects, and deliver greater value to MDB clients and stakeholders.
Conrad Albrecht's participation at the MFI Working Group for Environmental and Social Studies reflects the EDB's commitment to sustainable development and its active engagement in shaping environmentally and socially responsible financial practices.
Additional Information:
The Eurasian Development Bank (EDB) is a multilateral development bank investing in Eurasia. For more than 18 years, the Bank has worked to strengthen and expand economic ties and foster comprehensive development in its member countries. The EDB's charter capital totals US $7 billion. Its portfolio consists principally of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing and mechanical engineering. The Bank adheres to the UN Sustainable Development Goals and ESG principles in its operations.
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