Protection of the environment and resources and the social compatibility of the projects financed by OeEB are fundamental principles that govern our actions. This is the only way to fundamentally improve the living conditions of people in developing countries and emerging markets over the long term. We only get involved in projects if the project partners endorse these criteria.
Keeping an Eye on Long-Term Ecological and Social Development
In addition to adherence to local and national environmental and social regulations of the respective country, we also strive for the adoption of international environmental, social, and human rights standards when financing projects. If necessary, we create a catalogue of measures in the form of an action plan, which then becomes a binding condition as part of the loan agreement. Adherence to environmental and social standards is verified at regular intervals over the course of the project.
We take environmental and social aspects into consideration in our projects.
As a fundamental benchmark, we observe the ecological and social standards agreed upon by the EDFI, the Association of European Development Finance Institutions. These include the "Performance Standards on Social and Environmental Sustainability" developed by World Bank subsidiary IFC, which have become the established market benchmark, as well as the "Environmental, Health and Safety Guidelines" of the World Bank Group, and international conventions of the International Labour Organization (ILO).