This newsletter from Deytec, Inc. is published to inform subscribers of notable topics in the field of sustainable development. Monideep Dey, PhD, principal consultant, serves as an US expert in technical committees of international organizations.
Topics of interest from the
2022 World Bank and IMF Meetings
The following are topics of interest that were presented and discussed at the 2022 spring and annual meetings of the World Bank Group (WBG) and International Monetary Fund (IMF) in Washington D.C.
Environmental and Social Framework
The Environmental and Social Framework (ESF) at the World Bank supports green, resilient and inclusive development by strengthening protections for people and the environment and making important advances in areas such as labor, inclusion and non-discrimination, gender, climate change and stake holder engagement. The Environmental and Social Standards supports the framework to allow monitoring of projects for adherence to the standards, and also allows for inclusive engagement by affected parties. Although the standards are used for World Bank projects, they are a useful reference for green, resilient and inclusive development. See the World Bank ESF program.
Green, Resilient, and Inclusive Development (GRID)
The Green, Resilient, and Inclusive Development (GRID) approach of the World Bank departs from previous development strategies in that it promotes economic growth that goes hand in hand with environmental goals and inclusion. Several challenges faced in projects at various countries, e.g., Nepal, Columbia and India, were discussed. The challenges included social and economic rights, impact of indigenous people, deregulation, and accountability of the private sector. The approach and input provided by representatives from various countries is notable of an open approach to the understanding of the issues involved.
Gender and Development
Gender equality is central to the World Bank Group’sgoals of ending extreme poverty and boosting shared prosperity in a sustainable manner.No society can develop sustainably without transforming the distribution of opportunities, resources, and choices for men and women so that they have equal power to shape their own lives and contribute to their families, communities, and countries. Gender equality was also discussed at the IMF meeting as the organization widens its purview. It was noted that a transformation in national structures is necessary to close the gaps. Gender equality is a fundamental human right. A need for gender sensitive indicators to monitor progress was noted.
Digital Technology and Good Governance
An interesting application of blockchain technology for good governance and anti-corruption in an IMF pilot project was presented. It was noted that corruption can occur at a policy level or at a transactional level. Blockchain could improve the transparency and disclosure of procurement processes to prevent losses due to corruption. The IMF project studied the application of blockchain to the transactions of one agency in the government of Guinea-Bissau. The application will enable access to reliable and timely information on personnel and salaries to make better decisions, track effective outcomes, and help close gaps on the inefficiencies. This pilot study demonstrated the applicability and usefulness of this digital technology when used on a larger scale.