News / 19 november 2012

Public money used to support agricultural giant Monsanto in Eastern Europe

The European Bank for Reconstruction and Development (EBRD) plans to give multinational Monsanto 40 million dollars to sell seeds and pesticides in Eastern Europe. Farmers and environmental groups from all around the world are shocked, since Monsanto is known for promoting genetically modified crops and pesticides. Today Both ENDS and partners from Eastern Europe requested the EBRD to stop this project.


Besides the use of environmentally damaging crops and pesticides, Monsanto also encourages large-scale industrial agriculture in Eastern Europe. Small farmers and organic farming will irrevocably be victim of Monsanto’s policy. Both ENDS and partners therefore believe that public money should not be used for the support and expansion of this rich multinational, which is the largest seed producer in the world.

The EBRD is a public bank, established by Western countries after the fall of communism, to support the transition to a democratic system with a free market economy in former Soviet bloc countries. The Netherlands is a board member of this institution.

Both ENDS is committed to sustainable land use, and keeps an eye on the capital spending by financial institutions such as the EBRD.

The Press release

Picture: Avy Yakata


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