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Environmental and Social Issues

The Federal Government attaches great importance to the vision of global, sustainable development. Therefore, environmental aspects in their wider sense, i.e. ecological, social and developmental effects a natural resources project may have in the host country (hereinafter referred to as environmental aspects), constitute an important aspect to be assessed and evaluated when cover by an Untied Loan Guarantee is requested for a natural resources project, in order to determine whether it is eligible for cover.

An appropriate environmental impact assessment has to be handed in during the process of application. Measures such as an environmental management plan with respective monitoring programs, the creation of appropriate social and educational institutions for the staff, the subsequent recultivation of the terrain, the improvement of the regional infrastructure etc shall be provided in order to minimise the impact on the environment.

Compliance with environmental and social standards of the host country is the minimal requirement for the cover of an Untied Loan by an Untied Loan Guarantee. In addition, World Bank guidelines or other comparable standards need to be complied with.

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