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The Role Of Multilateral Finance And The Environment: A View From The World Bank, Andrew Steer, Jocelyn Mason
The Role Of Multilateral Finance And The Environment: A View From The World Bank, Andrew Steer, Jocelyn Mason
Indiana Journal of Global Legal Studies
Dr. Steer and Mr. Mason begin by noting that since fundingfor
the Rio Earth Summit agreements has not been forthcoming,
multilateralfinanciailn stitutions (MFIs) have taken responsibilityf or
advancing the environmental agenda set forth at the Summit. Dr.
Steer and Mr. Mason note that MFIs furnish three crucial functions
in implementing the global environmental agenda. First, MFIs are
able to target investments in developing countries that involve
important environmental issues. Second, MFIs are able to support
policy reforms within developing countries to ensure environmental
standards and issues are properly addressed. Finally, MFIs can
multiply a small amount offunding into a significant …