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Panel 7: The Role of International Financial
Institutions in Compliance and Enforcement
Moderator: Adriana Bianchi, World Bank Institute
Panelists: Sheng Shuo Lang, Multilateral Fund for the Montreal
Protocol Secretariat; Alberto
Ninio, World Bank; Dr.
Dariusz Prasek, European Bank for Reconstruction and Development
Panel 7 focused on international financial institutions and their
various accountability mechanisms for enforcement and compliance
-- from the oldest, the World Bank Inspection Panel, to the newest,
the European Bank for Reconstruction and Development (EBRD) Independent
Recourse Mechanism. Panelists addressed how funding can be used
as leverage to help countries comply, by giving money with compliance
measures. For instance, the success of the Multilateral Fund in
reducing the number of CFC producing plants in China was used to
demonstrate the effectiveness of financial support in compliance
and enforcement, as well as the use of independent verification
and penalties for non-compliance. Similarly, panelists from the
World Bank and the EBRD discussed their institutions' accountability
mechanisms and recommendations for improvement.
The speakers from the World Bank and the EBRD both stressed the
importance of an accountability mechanism for monitoring projects
and ensuring good practice standards. For the World Bank, this meant
transparency, regional development, liability, adequate shareholder
participation, and independent verification. For the EBRD, this
meant problem solving, compliance, meaningful consultation, and
monitoring of activities during project implementation. From the
oldest to the newest, both mechanisms are still evolving and improving.
The question and answer period demonstrated that although both mechanisms
have worked to provide adequate safeguards, they still face criticism.
However, all the panelists agreed that through capacity building
programs, institutions such as INECE, and the sharing of lessons
learned from each institution, successful compliance and enforcement
is possible.
Presentations:
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