Policies and practices critical to strengthening the sustainable development impact of infrastructure projects were discussed during a workshop for staff of the Export-Import Bank of China (CEXIM) that was cohosted by the Multilateral Cooperation Center for Development Finance (MCDF), World Bank, and CEXIM in Beijing on 15 October.
The workshop featured insights on the World Bank’s operational framework, focusing on the project cycle, procurement, financial management, disbursement, and environmental and social framework requirements. The aim was to share approaches and lessons that can help CEXIM ensure the quality of projects as its financing support for them increases.
The importance of effective management of projects throughout their lifecycle was highlighted by the workshop’s opening speakers.
“The processes of project preparation and selection, evaluation and negotiation, implementation and supervision, risk control, and post-evaluation all influence the success or failure of projects,” noted CEXIM Vice President Dongning Yang. “Implementing scientific and effective project management can enhance the impact of development financing projects, providing robust support for sustainable development in developing countries.”
“It’s not enough to analyze a project’s financial indicators. You also need to analyze the host country’s economic, social, and environmental risks,” added MCDF CEO Zhongjing Wang. “Not only should you consider a project’s debt level, but also the debt level of the country, industry, region, and even the world,” he continued. “The issues reflected in these areas must be considered to ensure that the project is sustainable.”
CEO Wang also highlighted the support that MCDF has provided to CEXIM on these topics, including technical assistance through the Asian Infrastructure Investment Bank to enable CEXIM to develop a green finance framework and improve its environmental and social policies and indicators. MCDF has also provided training to CEXIM on assessing the sustainability of borrowing country debt, using the tools of the International Monetary Fund and World Bank.
Both the World Bank and CEXIM expressed a desire for closer collaboration, which Ms. Mara Warwick, the World Bank’s Country Director for China and Mongolia, emphasized as aligned with the strong commitment to partnerships in its Evolution Roadmap.
“Today’s workshop is a crucial step in promoting mutual understanding and laying the foundation for future cooperation between our institutions,” she said.
CEO Wang stated that MCDF aims to be a bridge to help financial institutions such as CEXIM partner with multilateral development banks, and saw the event as a manifestation of this role.
“MCDF hopes to facilitate more cooperation between multilateral and bilateral development financial institutions to leverage partnerships, providing not only more funds but also invaluable learning opportunities,” he concluded.
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