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.
Ten years after the start of the construction of the Nam Theun 2 dam in Central Laos, it is clear that this mega project has disastrous impacts on people and their environment. The project - originally the flagship of the World Bank, the Asian Development Bank (ADB) and the European Investment Bank (EIB) - did not achieve its intended development goals. In a press release which was sent out this week, Both ENDS and partner organisations call on these multilateral banks to withdraw from large scale hydro dams such as Nam Theun 2. The dam, which became operational in 2010, has profound negative effects on local communities, while they do not benefit from it.
What is the reason behind the European Investment Bank’s 500 million loan to the Brazilian development bank BNDES? The money, paid for by the European taxpayer, comes from the ‘climate funds’ intended for projects to stop climate change. Does this make BNDES the most logical choice? Anouk Franck went to Brazil to find out more about this loan.
The Asian Development Bank (ADB) and the World Bank will donate $23 million to the Philippines, but will also provide a loan of $500 million to this country for the reconstruction of the areas damaged by the storm. According to ‘NGO Forum on ADB,’ Both ENDS’ partner organisation, these banks abuse this crisis. The debt will have to be repaid with interest and Philippine society will end up paying the price.
On Tuesday 24th of May the locks of the Barro Blanco dam in the Tabasará river in Panama, which is partly financed by the Dutch development bank FMO, were closed. This is in complete discord with the previous agreements between the Panamanian government and the leadership of the indigenous communities. Last august these parties had agreed that the reservoir of the dam would not be filled until a new agreement had been reached which includes all affected parties. According to the Panamanian government and the company Genisa the present filling of the dam is only a test. But this ‘test’ means that the water will rise 26 meters above the predicted future level of water.
Currently a new highway is being constructed which will connect Hanoi (Vietnam) to Kunming (China). The project, partially financed by the Asian Development Bank (ADB), aims to stimulate economic development in the region throughout the construction of this "economic corridor".
Residents belonging to the indigenous Ngäbe-Bugle people living on the traditional indigenous territory surrounding the Barro Blanco dam in Panama, have filed a complaint against the Dutch development bank FMO. The bank has invested $ 25 million in the dam that is currently under construction in the river Tabasará. The Ngäbe-Bugle blame FMO for not adequately following its own social and environmental standards. FMO also violates international agreements relating to indigenous peoples. For Both ENDS, Anouk Franck is closely following FMO’s activities.
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.'