Both ENDS
Every 10 years, the mandate and activities of 'Export Development Canada' (EDC), the Canadian export credit agency, are reviewed. Since the last review took place in 2008, another review is currently underway. Both ENDS and a couple of other CSOs working from a number of countries made a joint submission as formal input to the legislative review. We did this especially in light of the Canadian governments' ambition to show leadership on climate change and to prioritise climate change action and clean economic growth.
Global public support for coal is decreasing. Obama has pledged to stop American support for public financing of new coal plants outside the U.S., the World Bank has announced to phase out support for coal projects and some large private banks are withdrawing from fossil fuels. But what about export credit agencies (ECAs)? Until now, ECAs have not withdrawn from coal projects. On the contrary: while other investors gradually cease their support to coal projects, export credit agencies are investing in coal more than ever. On June 11, an alliance of 50 NGOs, including Both ENDS, published a recommendation to the OECD calling for an end to export credit support for coal.
Both ENDS really means ENvironment and Development Service but we could also say:
Both ENDS and Oxfam Novib welcome the new SDG Loan Fund launched by FMO. The fund aims to invest more than a billion euros in loans to small and medium-sized enterprises in low- and middle-income countries, in the energy, inclusive financial services and sustainable agriculture sectors. At the same time, both organisations are concerned about the impact of money from the fund on normal people in future recipient countries.
Infrastructure has become a buzzword of the current development debate. But will the recent infrastructure strategies of the World Bank and the G20, which favour large centralized projects, address the needs of the poor? This is the central question in International Rivers' report "Infrastructure for whom?". Strategic infrastructure projects such as large dams and transport corridors promoted by the World Bank and G20 are funded with public money. In order to make these projects attractive to private investors, they are supported by public guarantee schemes. One of the examples mentioned in the report is the Grand Inga Dam in the Congo River (DRC) which - if ever realised - would be the largest dam in the world.
The European Union wants to grant a EUR 300 million loan to Tunisia, under the guise of development assistance. This is a very bad idea, according to Both ENDS and other European and North-African civil society organisations.
Around 85% of the loan would immediately be used to repay the already existing debts Tunisia has to the EU Member States and the European Investment Bank (EIB). These debts have been generated by the regime of dictator Ben Ali, but the common people of Tunisia - already empoverished - will have to meet the costs.
Yesterday, the French President Macron, the President of the World Bank Group, Jim Yong Kim, and the Secretary-General of the United Nations, António Guterres, met with international leaders and committed citizens from around the world in Paris. According to the organisers, the aim of this gathering was to 'address the ecological emergency for our planet' as 'two years to the day after the historic Paris Agreement, it is time for concrete action.'
