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5 - Discretion, Delegation, Fragmentation and Opacity

Impacts of Financing Mechanisms in Mongolia and Panama

Published online by Cambridge University Press:  02 March 2020

Kinnari I. Bhatt
Affiliation:
Erasmus Universiteit Rotterdam
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Summary

This chapter contextualises how project finance mechanisms interface with indigenous land rights recognition and implementation, and the effects of that convergence for communities in Mongolia and Panama. I analyse how, in two cases, lender safeguarding policies are prioritised through the ordinary and mechanical stream of lender decision-making and the contractual networks that operationalise those policies, questioning the effectiveness of those policies to deliver fair, rights-compliant outcomes. I examine how private environmental and social experts, hired by the borrower, will sort and (de)prioritise local and international norms on indigenous rights and decide which social safeguard policies a borrower should comply with, and how. This provides insights into the operation of law and power in this field: specifically, the fragmented, de-prioritised and powerless nature of different sources of formal indigenous rights norms as they sit against contractual and policy norms. A larger question is of an over-reliance on private experts, the lack of transparency around their decision-making and a deficiency in independent regulatory oversight over these routinely delegated processes.

Type
Chapter
Information
Concessionaires, Financiers and Communities
Implementing Indigenous Peoples' Rights to Land in Transnational Development Projects
, pp. 123 - 144
Publisher: Cambridge University Press
Print publication year: 2020

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