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Sustainable Tourism Bank Watch

BANK WATCH WIKI

 

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FLICKR ALBUM: World Bank


Sustainable Tourism Bank Watch brings together multiple stakeholders -- including donors, communities, operators and media -- in a review of current financing of sustainable travel and ecotourism offered by International Financial Institutions (IFIs) including the World Bank, the Inter-American Development Bank, USAID and others.

YOUR TURN

To contribute a story or suggest a link, please review our writers' guidelines.


FINANCING SUSTAINABLE TOURISM

In the past few years experts have reported a high rate of failure of internationally funded tourism projects, particularly in the realm of 'sustainable' travel and ecotourism. Institutions financing this work can be more effective, but they need to be more transparent and more accountable to stakeholders.

 

OVERVIEW

The following chart provides an overview of how institutions track tourism grants and loans.


INSTITUTION

TOURISM PAGE?

PUBLIC BIDDING?

PUBLIC EVALUATION?

World Bank

No

No

Limited

IDB

No

No

Limited

USAID

No

No

Limited

CIDA

No

No

Limited


ANALYSIS

Development banks are rarely aware of independent concerns about projects they have funded as they only hear from the project coordinators. Coordinators evaluate themselves and rarely inform funders of criticisms. If a project fails, recipients do not wish to incriminate themselves.

Consultants report to bank officials who may or may not qualified in the realm of overseeing tourism development.

Said one respected colleague: "My work was more stressful due to a bloody nitwit from a bank which has too much time and money to throw away and yet no understanding of community-based tourism. This person controlled my every move including prohibiting a final stakeholders forum designed for problem solving and brainstorming, since 'it was not their project'!"

REQUEST

Financial institutions ought to make the contract process or the evaluation available in a reader-friendly format on the Web. They should post in-depth project development reports and offer access for stakeholders to comment about work in progress. Planeta.com spotlights reports in our index on international financial institutions and sustainable tourism.

HOW THE SUSTAINABLE TOURISM BANK WATCH WORKS

WHO IS INVITED? -- We welcome bank representatives and stakeholders who work with the banks, including owners of tourism businesses, consultants, media, government and ngo officials and academics.

GUIDELINES -- Participants need to follow our forum guidelines.

FEATURES

g Emerging Industry Forum Recommends Donors Take Market-Based Approach to Ecotourism Development
g Crossing the Eco-Cultural Divide - Alvin Rosenbaum
g Ecotourism Certification and Marketing
g Inter-American Development Bank Sustainable Tourism Policies & Directions
g Sustainable Tourism Bank Watch Report - April 2005
g Global Donor Community Makes Sustainable Tourism a New Priority
g World Bank Talking Points
g Role of Sustainable Tourism In Furthering USAID's Mission
g Sustainable Tourism Bank Watch - November 2004
g World Bank
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WIKI

g Finance
ONLINE WIKI

VIDEO

b Andrew Mwenda: Let's take a new look at African aid - TED
VIDEO

HEADLINES

b IDB approves $30 million loan for sustainable development program for conservation of Guatemala's Mayan Biosphere Reserve
b Uruguay will promote strategic tourist destinations with program financed by US$5 million IDB loan
b IDB approves $20 million loan to Costa Rica for sustainable tourism in protected wilderness areas
b World Bank to develop new Tourism Account - TravelMole
b MIF supports tourism development in Mexicos Tequila region - IADB
b MIF grants totalling $1.8 million will promote tourism to missions in Guaraní World in Paraguay - IADB
b IDB fund to promote networks of ethnic enterprises in Honduran tourism industry - IADB
g Ecotourism Emerging Industry Forum
b The Trade and Environmental Effects of Ecolabels: Assessment and Response (PDF)
b Will responsible business increase competitiveness? - World Bank Group

 

REFERENCES

Sustainable Tourism Bank Watch
http://www.planeta.com/ecotravel/tour/bankwatch.html

Financing Sustainable Tourism Conference
http://www.planeta.com/ecotravel/tour/ecotourism_financing.html

Reflections from the World Bank
http://www.planeta.com/ecotravel/tour/worldbank.html

Spotlight on international financial institutions and sustainable tourism
http://www.planeta.com/ecotravel/tour/ecotourism_fspot.html


KUDOS

For announcing this initiative, thanks to Development Gateway, Ecoclub, Eldis, Ethical Traveler, Green-Travel, IFIwatchnet, Tourism Concern, Totem Tourism Marketing, Ethical Traveler and Transitions Abroad.

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