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Thursday, September 29, 2022

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Financing with transparency and participation

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By: Aída Gamboa, coordinator of the Amazon program of DAR

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The COVID-19 situation has mobilized large amounts of resources in Latin America from various international actors and new financing initiatives have been opened from different international financial institutions (IFDs), especially in the Amazon. The measures adopted by Peru in the face of COVID-19 generated problems in relation to the economic growth of the country, which is why the support of DFIs increased through operations aimed at the development of the country.

The Inter-American Development Bank (IDB) has mobilized more than $ 12 million to strengthen government responses to COVID-19. In Peru, the IDB is the main multilateral financing agent that has allocated, to date, 2,540.10 million dollars to the country, through 29 loans to face the pandemic; amount allocated to various areas such as social inclusion; rural development and agriculture; housing and urban development; climate change and natural disaster risk management; water, sanitation, water resources and solid waste; Energy; transport; Public Management; and competitiveness and innovation.

In this scenario, the IDB approved its new social and environmental policies in September 2020; and in October of this year it published the implementation guides for said mandatory policies for the approval of loans destined for the region.

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It also published its strategy for engaging with civil society this month. Although these instruments have incorporated different recommendations from civil society and indigenous organizations, it is necessary to reinforce the right to citizen participation and consultation with indigenous peoples regarding the financing to be allocated in the economic reactivation processes. Institutionalized and transparent communication channels are required between the Bank, States, and civil society.

It is important that this strategy incorporates interculturality, gender, intergenerational, youth and human rights approaches, implementing a focused participation for women, youth, and indigenous peoples, which recognizes the international normative frameworks of human rights. Likewise, it is necessary that these processes be developed integrating the principle of good faith, making inadmissible practices that limit or hinder participation and providing the necessary information with due diligence to guarantee a climate of trust between the IDB, the States and society. civil.

Finally, cultural relevance must be integrated, respecting the geographical, economic, linguistic and cultural conditions of the various peoples, therefore it is necessary to provide a proper space for high-level dialogue and consultation with indigenous peoples, where their proposals can have an influence. in the respective decision process. It is noteworthy that the design and implementation of this space must occur jointly with indigenous organizations within the framework of a co-design process.

Finally, the relationship between the IDB and civil society must respond to the situation of the global health emergency, so the bank needs to rethink its strategy by incorporating consultation and participation processes linked to the new financing that will be granted to the countries to ensure that they integrate the highest standards of human rights and environmental protection, so that the regulatory frameworks of the countries are not weakened as an excuse to face this crisis.



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