Currently, on the initiative of China, the Asian Infrastructure Investment Bank (AIIB) is being set up. As the ‘Chinese alternative to the World Bank’, AIIB will focus on financing large-scale infrastructure projects in Asia. The bank promises to be ‘lean, clean and green’, or in other words: non-bureaucratic, non-corrupt and environmentally friendly. Nevertheless, civil society organisations fear there will be disastrous consequences for local populations and the environment, considering China’s poor track record in these areas. In a letter to AIIB and in a press release, our partner 'NGO Forum on ADB' calls on the bank to develop strong safeguards.
'Water for development' was the topic of the annual World Water Week (WWW), which was held last week in Stockholm for the 25th time. Thirza Bronner, Sanderijn van Beek and Cindy Coltman of Both ENDS were present, together with partners Serah Munguti of ‘Nature Kenya’ in Kenya, and Suu Lam from the ‘Centre for Social Research and Development (CSRD)’ in Vietnam. In light of this year’s theme, Both ENDS decided to invite these two outspoken women leaders to this conference to bring strong civil society voices to the table. They took part in a roundtable session that was marked by enthusiastic participation of policy makers, donors and NGOs. During the session, Munguti and Lam told us about their organisational objectives, their experiences and how ‘water for development’ translates into their practice.
The African Development Bank (AfDB), which was founded in 1964 to stimulate economic development in Africa, has had a complaints mechanism since 2006. Individuals who have somehow been affected by projects financed by the AfDB can make an appeal to this mechanism. Yet, according to a large number of African and international organisations, this system has its weaknesses and there is much to improve. How exactly? Well, the organisations have recently presented their recommendations to the AfDB. Anouk Franck of Both ENDS coordinated this process.
The European Bank voor Reconstruction and Development wants to provide $40 million to a Kuwaiti company that is going to start doing oil drilling in Egypt. Huub Scheele from Both ENDS together with Egyptian NGOs urges the EBRD to postpone the decision, as the money is not going to contribute to any positive changes for the Egyptian people.
The planned initial public offering (IPO) of Malayan state-owned enterprise Felda Global Ventures Holdings (FGVH) will take place this month (28th June). It will be underwritten by Deutsche Bank, JP Morgan and Morgan Stanley; with an expected valuation of around 2.5 billion Euro this will be the second biggest IPO ever, trailing Facebook. A significant detail is that FGVH is controlled by the governing part UMNO, led by Prime Minister Mohd Najib Abdul Razak. The upcoming privatisation might be prompted by a need to generate capital for the upcoming elections.
A lot of talking is going on about what should be done after 2015, when the Millennium Development Goals will come to an end and new agreements must be made to stimulate global sustainable development. But that’s easier said than done. Nathalie van Haren from Both ENDS attended a so-called 'post-2015 conference’ in Bonn, Germany. Why was it held and what did Nathalie do there?
"If it is the fossil fuel-based ‘real economy’ that is driving us toward catastrophic climate change, it is the financial world behind the steering wheel." Therefore in 2019, Both ENDS worked towards fossil free investments by both individuals and public institutions such as the European Investment Bank (EIB).