ARTICLE TITLE: From Environmental Threats to New Development Rules and Tools in Eurasia
AUTHORS: Schvarts Ev. , Simonov Eu.
ABSTRACT: Realization of an ambitious integration project Silk Road Economic Belt is to be financed through the system of the newly created China-led development institutions (Asian Infrastructure Investment Bank (AIIB), BRICS Bank (New Development Bank) and at least 5 other financial institutions. There is an urgent need to prevent the lowering of environmental safeguards standards ecological damping during implementation of transboundary strategies and projects by the newly created financial institutions as compared with the existing policies and procedures of Bretton Woods System institutions, including Bank/IFC Group, Asian Development Bank (ADB), and the European Bank for Reconstruction and Development (EBRD). As one of such measures it is suggested to expand the regional applicability of the Convention on the Environmental Impact Assessment in a Transboundary Context of UNECE and its Protocol on Strategic environmental assessment or to adopt a similar Asian convention of UN Economic and Social Commission for Asia and the Pacific (ESCAP).
KEYWORDS: Environmental Impact Assessment in a Transboundary Context , Silk Road Economic Belt , strategic environmental assessment , BRICS Bank (New Development Bank) , Asian Infrastructure Investment Bank (AIIB)