Of course.
I can take you through a couple of the specific policies, and then we'd be happy to provide you with additional information, if required.
The first one to take is the policy on prohibited practices. The AIIB has a very specific policy on this and this applies to sanctions malpractices, which include coercive practice, collusive practice, corrupt practice, fraudulent practice, misuse of resources, obstructive practice, and theft. As you can see, it's quite a comprehensive policy. Again, if it would be of interest to the members, we'd be very happy to share copies of that policy with you.
As I mentioned in my opening remarks, because the AIIB is a new bank, it is relying on its MDB partners in putting some of these practices in place. By way of example, nearly 75% of their projects to date have been co-financed with other MDBs, including the World Bank. When that happens, that means there has to be full alignment in these safeguards and practices.
The social and environmental safeguards parallel existing ones, as I'd mentioned, and they were formalized in spring 2016, quite early in their infancy, following a round of public consultations that had taken place in 2015. Those were led by former World Bank staff and so were quite comprehensive. While the AIIB had received considerable feedback during that public consultation phase, there has not been that much public criticism following the publication of the final version, which was largely seen as addressing any concerns that had been raised during those practices.
For example, the restrictions on child labour requires project conformity with the International Labour Organization's minimum age convention. They've signed on to that international convention. There are requirements around consideration for environmental damage, including pollution abatement processes, biodiversity consideration, and sustainability of land and water use. There are also considerations around involuntary settlement either for physical or economic displacement, and a series of other pieces as well.
An entire section is also devoted to managing relationships with indigenous people under a client project, which is quite progressive. It requires a client to design and implement projects in a way that fosters full respect of indigenous peoples' identity, dignity, human rights, economies, and cultures as defined by the indigenous peoples themselves so that they receive culturally appropriate social and economic benefits and do not suffer adverse impacts. It's also so they can participate actively in the projects that involve them.
Those are a couple of examples, but we'd be very happy to provide you with additional information.