bankwatch

Sustainable Tourism Bank Watch
related: finance, responsibletourism editing: Bank Watch

Private enterprises usually operate on the principle of the smallest amount of energy and funding required to produce the greatest outcome. In striking (and disturbing) counterpoint to this, it seems to me that too many donor organisations – both international or domestic – operate in a parallel but opposite world guided by the principle of the greatest amount of energy and funding required to produce the least outcome. John NIchols, [|Will some donors never grow up?]

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The Sustainable Tourism Bank Watch brings together multiple stakeholders in a reivew of current financing of sustainable tourism by International Financial Institutions (IFIs).

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.

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.

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.


 * COST** -- We request a financial contribution. Whatever you can pay will be channeled to improving this work. If are not in a position to be able to pay, help out a local environmental or social development project. Pay it forward.


 * TRAINING** -- We offer the Planeta Web Seminar to individuals and institutions.

REFERENCE
Sustainable tourism bank watch http://www.planeta.com/ecotravel/tour/bankwatch.html

Questions
How transparent are development agencies and banks?

Videos
[|Andrew Mwenda: Let's take a new look at African aid]

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