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The Impact of International Financial Institutions on the Environment and Socio-Economics: The Cases from Armenia and the World

Author: Sofia Manukyan, Published on: 21 July 2020

...[R]ich countries, corporations and big financial institutions, such as World Bank and its International Finance Corporation, European, Russian, Asian and other development banks continue investing in programs in different countries, especially in energy sector, which are problematic from the perspective of overall wellbeing and environmental protection. Therefore the goal of this research is to

 study energy investments of financial institutions and the harms caused to the environment,

 study the outcomes of such investments on the socio-economic situation of the locals this way understanding the link between unsustainable projects and the socio-economic situation of communities based on examples from the world and Armenia,

 present the clash of these investments with human rights,

 suggest policy recommendations to the state and investors which will not contradict with the obligations of the state in the sphere of environmental, socio-economic and human rights protection...

[refers to Asian Development Bank, Asian Infrastructure Investment Bank, European Bank for Reconstruction and Development, European Investment Bank, International Finance Corporation, KfW Development Bank, Korea Development Bank, Sberbank, World Bank]

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