How will the new P4R policy address fiduciary and social and environmental impacts and risks?
The policy governing the P4R instrument will ensure that funds are used appropriately, and that an adequate system is in place to protect affected people and the environment. This will be based on principles similar to those that apply to IL. However, reflecting P4R’s stronger focus on program results and institutional performance, the detailed procedures will apply at the system level of the program that is supported. A new OP/BP for P4R will clearly set out these policies and procedures.
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