Against the background of the importance of environmental protection and the conservation of raw materials, raw material projects have to be assessed with regard to their ecological and socio-economic impact.
Therefore, the provision of an environmental, social and human rights audit which examines the compliance with international standards concerning the factors listed below is a prerequisite:
- Natural environment (air, water, soil, flora and fauna)
- Social environment (e.g. indigenous people, involuntary resettlements)
- Human rights protection
- Health protection and on-the-job-safety
- Use of land and soil
- Archaeological and cultural-historical heritage deemed worthy of protection
The mitigation of environmental impacts requires provisions such as an environmental management plan with monitoring programmes, the establishment of adequate social facilities and training centres for staff, the later re-cultivation of the area and the improvement of the regional infrastructure.
The minimum prerequisite for the cover of an untied loan is that the project country’s standards are met. Furthermore, every project will be screened and categorised in accordance with the internationally established OECD Common Approaches on the Environment and Officially Supported Export Credits (PDF). The project’s compliance with the IFC Performance Standards and the relevant World Bank/IFC Environmental Health and Safety Guidelines will be examined within the final assessment of the eligibility for cover.