THE WORLD BANK - ENVIRONMENTAL AND SOCIAL COMMITMENT PLAN (ESCP) BULGARIA DEPOSIT INSURANCE CONTINGENCY FINANCING PROJECT (P168133) [Draft] ENVIRONMENTAL and SOCIAL COMMITMENT PLAN (ESCP) October 2019 1|Page THE WORLD BANK - ENVIRONMENTAL AND SOCIAL COMMITMENT PLAN (ESCP) ENVIRONMENTAL AND SOCIAL COMMITMENT PLAN 1. The Bulgarian Deposit Insurance Fund (BDIF) will implement the Deposit Insurance Contingency Financing Project (the Project), with the involvement of the Ministry of Finance and the Bulgarian National Bank as other interested parties. The International Bank for Reconstruction and Development (hereinafter the Bank) has agreed to provide financing for the Project. 2. The BDIF will implement material measures and actions so that the Project is implemented in accordance with the Environmental and Social Standards (ESSs). This Environmental and Social Commitment Plan (ESCP) sets out material measures and actions, any specific documents or plans, as well as the timing for each of these. 3. The BDIF is responsible for compliance with all requirements of the ESCP even when implementation of specific measures and actions is conducted by the stakeholders referenced in 1. above. 4. Implementation of the material measures and actions set out in this ESCP will be monitored and reported to the Bank by the BDIF as required by the ESCP and the conditions of the legal agreement, and the Bank will monitor and assess progress and completion of the material measures and actions throughout implementation of the Project. 5. As agreed by the Bank and the BDIF, this ESCP may be revised from time to time during Project implementation, to reflect adaptive management of Project changes and unforeseen circumstances or in response to assessment of Project performance conducted under the ESCP itself. In such circumstances, the BDIF will agree to the changes with the Bank and will update the ESCP to reflect such changes. Agreement on changes to the ESCP will be documented through the exchange of letters signed between the Bank and the BDIF. The BDIF will promptly disclose the updated ESCP. 6. Where Project changes, unforeseen circumstances, or Project performance result in changes to the risks and impacts during Project implementation, the BDIF shall provide additional funds, if needed, to implement actions and measures to address such risks and impacts, which may include environmental or labor risks. 2|Page THE WORLD BANK - ENVIRONMENTAL AND SOCIAL COMMITMENT PLAN (ESCP): VERSION 2.0 – September 2019 MATERIAL MEASURES AND ACTIONS TIMEFRAME RESPONSIBILE ENTITY/AUTHORITY MONITORING AND REPORTING A REGULAR REPORTING Annually throughout Project BDIF Prepare and submit to the Bank regular monitoring reports on the implementation. Coordinate with the WB implementation of the ESCP. ISR Report. ESS 1: ASSESSMENT AND MANAGEMENT OF ENVIRONMENTAL AND SOCIAL RISKS AND IMPACTS Currently not relevant to the project ESS 2: LABOR AND WORKING CONDITIONS 2.1 The BDIF' HR policy is aligned with Bulgarian labor code. Throughout Project implementation BDIF ESS 3: RESOURCE EFFICIENCY AND POLLUTION PREVENTION AND MANAGEMENT Currently not relevant to the project ESS 4: COMMUNITY HEALTH AND SAFETY Currently not relevant to the project ESS 5: LAND ACQUISITION, RESTRICTIONS ON LAND USE AND INVOLUNTARY RESETTLEMENT Currently not relevant to the project ESS 6: BIODIVERSITY CONSERVATION AND SUSTAINABLE MANAGEMENT OF LIVING NATURAL RESOURCES Currently not relevant to the project ESS 7: INDIGENOUS PEOPLES/SUB-SAHARAN AFRICAN HISTORICALLY UNDERSERVED TRADITIONAL LOCAL COMMUNITIES Currently not relevant to the project ESS 8: CULTURAL HERITAGE Currently not relevant to the project. ESS 9: FINANCIAL INTERMEDIARIES Currently not relevant to the project ESS 10: STAKEHOLDER ENGAGEMENT AND INFORMATION DISCLOSURE 10.1 Regular stakeholder feedback on project progress sought through the At least twice a year (in line with calendar BDIF BDIF Management Board, which includes representatives from the of supervision missions) Council of Ministers, the Bulgarian National Bank and the Association of Banks in Bulgaria. 3|Page THE WORLD BANK - ENVIRONMENTAL AND SOCIAL COMMITMENT PLAN (ESCP): VERSION 2.0 – September 2019 MATERIAL MEASURES AND ACTIONS TIMEFRAME RESPONSIBILE ENTITY/AUTHORITY 10.2 The BDIF maintains public awareness of the main features of the Ongoing throughout project BDIF deposit insurance system through its website (www.dif.bg), member implementation banks and other relevant channels of communication (e.g. national hotline, email, in-person at BDIF premises). 10.3 In case of a payout event, the BDIF provides relevant and up to date Ongoing throughout project BDIF information related to the procedure to be followed by depositors on its implementation (general procedures in website (www.dif.bg) and at least two major dailies. case of payout). If a payout event occurs, and no later than 2 business days prior to the commencement of repayment of insured deposits (which must begin within seven business days from the date of the event), the BDIF announces in at least two main newspapers and on its website the servicing bank/s and the initial date of payout. CAPACITY SUPPORT (TRAINING) Currently not applicable to the project 4|Page