social policy
of development finance institutions

Context

It can be challenging for clients to identify the range of social policy that may be applicable to a given project or development initiative. In recent years, safeguards policies have been receiving considerable media attention as IFIs continue to invest time and resources in updating their safeguard policy frameworks. Yet safeguards are but one aspect of social policy. Other aspects include social development policy (including initiatives to mainstream gender-sensitive development; initiatives to ensure the participation and empowerment of people and communities affected by development processes), social protection policy (including social assistance and welfare service programs including child protection and micro- and area based schemes to address poverty, and vulnerability; social insurance programs to cushion risks associated with unemployment, ill-health, disability, work-related injury and old age; and labour market policies and programs designed to generate employment, improve working conditions), human rights law, etc.

Adding a layer of complexity to any discussion of 'social policy' among international financial institutions (IFIs) are those policies that have an apparent 'social' orientation, but which are operational policies that come to bear only on internal bank operations. Unfortunately, IFI institutional treatments of social issues (such as web and print publications touting institutional contributions to social development) seldom help to situate different institutional initiatives and activities within their greater policy contexts.

The aim of this work is to help track the evolution and applicability of development policy and to help disambiguate and nuance terms and concepts. For the moment, I focus on the social policies of three development finance institutions: Asian Development Bank, International Finance Corporation, and World Bank—identifying policy origins, tracing their evolution, and distinguishing between obligatory and aspirational standards. While my professional work has at times touched on the policies of other financial institutions, and while these may one day find a place in this discussion, history has proven that it's hard enough to maintain the discussion of these three. So for now, this is it.

Meanwhile, in case you're looking to skip my verbose discussions and to cut directly to the chase, here's a list (now outdated) of IFI social development policies and implementation resources for quick reference. See something missing? A broken link? Leave a comment, file an issue, or reach out to me directly.