This strategy features in the framework of Agenda 21 as formulated at UNCED (Rio de Janeiro, 1992), now coordinated by the United Nations Commission on Sustainable Development and implemented through national and local authorities.
Agenda 21 recommends the help of multilateral development banks and funds, in particular:
(a) the International Development Association (IDA) – the statement made by the President of the World Bank at the UN Conference on Environment and Development should be given special consideration among the various issues and options that IDA deputies would examine in connection with the forthcoming tenth replenishment of IDA, in order to help the poorest countries meet their sustainable development objectives as contained in Agenda 21;
(b) regional and subregional development banks and funds should play an increased and more effective role in providing resources on concessional or other favourable terms needed to implement Agenda 21;
(c) the Global Environment Facility, managed jointly by the World Bank, UNDP and UNEP, whose additional grant and concessional funding is designed to achieve global environmental benefits, should cover the agreed incremental costs of relevant activities under Agenda 21, in particular for developing countries. It should be restructured so as to, inter alia: encourage universal participation; have sufficient flexibility to expand its scope and coverage to relevant programme areas of Agenda 21, with global environmental benefits; ensure a governance that is transparent and democratic in nature, including in terms of decision-making and operations, by guaranteeing a balanced and equitable representation of the interests of developing countries and giving due weight to the funding efforts of donor countries; ensure new and additional financial resources on grant and concessional terms, in particular to developing countries; ensure predictability in the flow of funds by contributions from developed countries, taking into account the importance of equitable burden-sharing; ensure access to and disbursement of the funds under mutually agreed criteria without introducing new conditions.