EVENT REPORT
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Land and Asset Valuation in Involuntary Resettlement Event Report
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SUMMARY
This event report summarizes the virtual Workshop on Land and Asset Valuation in Involuntary Resettlement, cohosted by the Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB), MCDF, and New Development Bank (NDB). The report overviews the workshop’s three-part examination of best practices, policy frameworks, and practical challenges in land and asset valuation in involuntary resettlement in Asia.
Part One on Main Concepts explores the foundational elements of compensation and replacement cost, challenges in applying replacement cost principles, the role of valuation at different stages of the project cycle, and the importance of supervising valuation processes. Part Two on Valuation of Affected Assets and International Standards looks at valuation methods, including market, cost, and income approaches, and introduces the International Valuation Standards (IVS) and their application in ensuring consistent and transparent valuation practices. Part Three on Navigating Challenges in Practice features insights from expert valuers and environmental and social specialists from ADB, AIIB, and NDB who participated in the workshop’s clinic session, and addresses practical challenges in valuation, compensation delivery and grievance settlement.
The report concludes by describing the workshop’s key takeaways in 11 priority areas. They include compensation at full replacement cost; comprehensive stakeholder engagement; challenges in valuation methodologies; the role of IVS; addressing non-market assets and informal land use; supervision and oversight in valuation processes; navigating delays and market fluctuations; grievance redress mechanisms; case studies which highlight the importance of flexibility; capacity building for local valuers and practitioners; and balancing national frameworks with international requirements.
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