How programme-level ES commitments translate into project realities, and why earlier collaboration between development finance and impact assessment practitioners matters.
As public development budgets come under increasing pressure, international cooperation is evolving towards financial mechanisms designed to mobilize private capital at scale. In this context, environmental and social (ES) requirements are no longer confined to individual projects but are increasingly embedded in broader investment programmes. Yet, translating these commitments into effective project-level implementation remains a persistent challenge. Drawing on my experience from both sides of the investment cycle, first in the design and appraisal of development-finance programmes for a national development bank and later in the delivery of project-level ES assessments for international lenders, this presentation explores how ES commitments evolve from programme conception to implementation. Using practical examples, the presentation argues that many challenges encountered during project-level impact assessment originate during programme design, when development objectives and financing expectations are often established before project-specific risks are fully understood. As a result, financing decisions may be expected within fixed investment windows, while robust ES studies may require baseline surveys that cannot be accelerated. The presentation explores how these challenges arise and how earlier engagement between development finance and impact assessment practitioners can help ensure that ES and financial commitments are designed together, making them not only ambitious but also realistic, measurable and implementable.
Valeria Conti, Project Manager and Social Specialist at WSP Italia, combines experience in project-level ES assessment and development-finance programme design gained at a national development bank.