Both ENDS
Recently, India has terminated its bilateral investment treaties (BIT) with 57 countries, including the Netherlands. This means Dutch companies in India, and Indian companies in the Netherlands, can no longer make use of the controversial arbitration procedures called ISDS. According to Burghard Ilge from Both ENDS, India's action is a step in the right direction. However it is a missed opportunity that the Dutch government did not agree with this termination. This way, old investments stay protected for 15 years under the former BIT.
And will James Amaya, the UN Special Rapporteur on the rights of indigenous peoples, ask the Panama government to halt the construction of the disastrous dam for the time being? This is what Both ENDS calls for in a letter to mr. Anaya, together with 12 civil society organizations, including four from Panama. It’s urgent because the Barro Blanco Dam, planned in the Tabasará river, is destructive to the Ngäbe indians.
On December 16th Jubilee Netherlands is organising a Political Café in collaboration with Both ENDS and Oxfam Novib. The purpose of the meeting is to connect the debt problems of developing countries to the current debt crisis in Europe. What lessons can be learned from past debt relief initiatives and in which way were they successful?
On 27 October, RTL Nieuws reported that the Steungroep Nicaragua considers the millions of euros that the Dutch development bank FMO is investing in Nicaragua irresponsible. When asked, FMO stated that 'it had to continue to support its entrepreneurs in difficult times'. Both ENDS believes that the choice to continue to invest in Nicaragua brings substantial risks, which FMO does not take sufficiently into account when deciding on financing. Previous FMO investments have caused harm to people and the environment and, in some cases, even led to violence – with, as its lowest point, the murder of Berta Cáceres in Honduras in 2016.
Pieter Jansen, programme officer at Both ENDS, interviewed Sukanta Sen from the Bangladesh Resource Center for Indigenous Knowledge (BARCIK). BARCIK is an NGO that works in the field of environment, biodiversity conservation and development. They have been promoting the significance of local and indigenous knowledge in development initiatives as well as the empowerment process of local and indigenous communities.
Hundreds of millions of euros from Ukraine found their way in recent years through Dutch letterbox companies, many of them registered at the Amsterdam Zuidas. The purpose: invisible and beneficial laundering of funds that lined the pockets of a handful of oligarchs in Ukraine by means of corruption and illegal practices - including the son of President Yanukovych. Fortunately, the Dutch government has now put a stop to this practice. Last week, Parliament decided to investigate suspicious Ukrainian assets and freeze them: a small triumph for Both ENDS and their partners!
In a new Position Statement on Financial Intermediary (FI) Lending, Dutch development bank FMO argues for limited responsibility over the outcomes investments that are channeled through commercial banks, investment funds, and other financial intermediaries, representing by far the bigger sector of its portfolio. In doing so, FMO is undermining its development mission, including the protection of human rights and addressing the climate crisis. FMO intends to delegate these key responsibilities to its FI clients only, falling short of best practices of peer financial institutions. In a joint submission prepared by Both ENDS, Oxfam Novib, Recourse and SOMO, we argue that FMO can do much more to ensure the protection of human rights, the environment, and to measure the development impact of its indirect investments.
