Following discussions at the February 2014 Board meeting on using recognised and comprehensive environmental and social standards as the basis for the Fund’s own ESS, the recommendation is to utilize the IFC’s PS, as the interim ESS of the Fund until the Fund’s own ESS has be developed.

The interim ESS serve as a reference point for establishing criteria for accrediting institutional capacities and entities seeking accreditation to the Fund, and for identifying, measuring and managing environmental and social risks. However, their main purpose is to determine the key environmental and social risks the accredited entity intends to address in the conceptualization, preparation and implementation of funding proposals, and to provide guidance on how these risks are to be managed.