Document Type


Publication Date

Fall 1995

Publication Citation

3 Indiana Journal of Global Legal Studies 35 (1995)


Dr. Steer and Mr. Mason begin by noting that since fundingfor

the Rio Earth Summit agreements has not been forthcoming,

multilateralfinanciailn stitutions (MFIs) have taken responsibilityf or

advancing the environmental agenda set forth at the Summit. Dr.

Steer and Mr. Mason note that MFIs furnish three crucial functions

in implementing the global environmental agenda. First, MFIs are

able to target investments in developing countries that involve

important environmental issues. Second, MFIs are able to support

policy reforms within developing countries to ensure environmental

standards and issues are properly addressed. Finally, MFIs can

multiply a small amount offunding into a significant amount. While

developing countries are beginning to acknowledge the relationship

between economic progress and environmental sustainability, MFIs,

according to Dr. Steer and Mr. Mason, are presented with several

challenges to continue advocating this relationshipf or the future.