Myanmar Environmental Assessment Association and IFC Join Forces to Build the Risk Management Capacity of the Private Sector

In Yangon, Myanmar
Quade Hermann
Phone: (+95) 945 828 4365
E-mail: qhermann@ifc.org

 

Yangon, Myanmar, April 10, 2019—IFC, a member of the World Bank Group, and the Myanmar Environmental Assessment Association (MEAA) have entered into an agreement to improve environmental and social (E&S) risk assessment and management skills in the private sector.

The MEAA—with a membership of over 100 consultants and firms—provides technical and advisory services in environmental and social impact assessments to the government and the private sector. Under the terms of the agreement, IFC’s Environmental and Social Advisory will provide cross-sectoral technical training to address the challenges they face in Myanmar.

The trainings, supported by the governments of Australia and the UK and based on IFC’s internationally recognized Performance Standards, will include topics such as social survey methods and resettlement action plans; designing impact assessments and management plans; and conducting biodiversity and health impact assessments.

“As Myanmar progresses we must have the tools and knowledge to effectively identify and mitigate the risks of economic development,” said Aung Nanda, Chairperson of the MEAA. “With IFC’s support, our members will be better placed to help the private sector pursue sustainable development in the interest of our communities, while meeting the requirements of international lenders.”

In addition to capacity building, the agreement between IFC and the MEAA paves the way for collaboration on other E&S related seminars and events, and an MEAA-led annual forum, the first of which is slated to be held later this year.  

“We’re very pleased to support the MEAA’s goal of improving the overall capacity of the private sector to conduct high quality environmental and social impact assessments. Environmental and social responsibility is key in today’s global economy. Our Performance Standards provide clear guidance to the private sector on how to identify and manage risks, and achieve sustainability in projects and business operations,” said Vikram Kumar, IFC’s Country Manager for Myanmar and Thailand.

 

About MEAA
MEAA is an independent, Union-level organization established under Myanmar Law that focuses on enhancing the capacity development of E&S professionals and other parties, fostering sustainable development, and encouraging research initiatives and due diligence in the private and public sector. For more information, visit www.facebook.com/MyanmarIAA

About IFC
IFC—a sister organization of the World Bank and member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work with more than 2,000 businesses worldwide, using our capital, expertise, and influence to create markets and opportunities in the toughest areas of the world. In fiscal year 2018, we delivered more than $23 billion in long-term financing for developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org

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