News / 20 november 2009

NEW: watch documentaries on investments and climate!

A paper pulp factory in the Atlantic Rainforest of Brazil and a hydro power dam in the source of the Nile in Uganda, don't seem to have much in common. Nevertheless, both projects are financed by the European Investment Bank (EIB) and both have a significant impact on the environment of the poor local population.


Farmers surrounding the paper pulp factory have become landless, they are forced to move towards the slums. In Uganda the houses of hundreds of people will be submerged because of the dam. These people already face major difficulties adopting to ongoing climate change. But also the nature, a first source of life and income for most Brazilians and Ugandans, is effected. In Brazil large slim eucalyptus trees (of which the paper pulp is made) drain water from the soils. In Uganda the water level of Lake Victoria is dropping , causing fish species to disappear. Both ENDS and Lokaalmondiaal filmed the harmful effects of the factory in Brazil and the dam in Uganda; watch the documentaries here.

The pulp mill end the Bujagali dam are both projects, financed by the EIB. This financial institution of the European Union was founded in 1958 with the Treaty of Rome. The EU is said to have great ambitions for the climate summit in Copenhagen, but climate unfriendly investments (in large dams or energy guzzling industries) can still count on the support of the European Investment Bank. The Netherlands being a shareholder of the Bank, it is responsible for the Bank's investment policy.

In December longer edits of the documentaries will become available. For more information on the documentaries, please contact Tim Senden.


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