- Program Environment
- Program Area Transforming Development Finance
- Grant Amount $160,000
- Grant Period June 1, 2004–May 31, 2006
- Location Sassenberg, Germany
- Geographic Focus World
About this grant
Through its Reform of Germany’s Multilateral Aid Policies and ECAs project, Urgewald works to establish and strengthen environmental and social standards and policies of German banks, export credit agencies (ECAs) and international financial institutions in which Germany is a shareholder. The project monitors privately financed development projects that pose significant environmental or social impacts, advocating for the establishment of proper environmental and social assessment policies; and encouraging policy reforms within the country’s ECAs.Multiyear funding will enable the project to address World Bank reform by encouraging full acceptance of Extractive Industries Review (EIR) recommendations by the Germany government; act as a German liaison for developing country and Eastern European non-governmental organizations (NGOs) working on development projects in their communities; monitor the implementation of the Equator Principles by German banks; and work with representatives of the Overseas Economic Cooperation for Development to establish a more holistic interpretation of the ECA Common Approaches guidelines.Recent accomplishments included advocating for EIR recommendations; working to make EIR a top agenda item for German development and environment NGOs; and helping to initiate a broader discussion among and between banks and NGOs on how to improve the environmental and social performance of the financial sector.